Rangers chief financial officer James Taylor insists the Ibrox side are "on the path" to financial stability after the release of the club's latest financial results.

The Light Blues announced an operating profit for the second successive year, with a £252k profit recorded in the past financial year.

And Taylor feels things are moving in the right direction while also highlighting the "challenges" of the Scottish market.

He said: "This is something that a number of clubs have been looking at and looking to find the answer to over the last few years.

READ MORE: McCausland handed 'terrible dive' Rangers penalty verdict

"Increasingly, there are UEFA aspects of the environment in terms of UEFA licencing and club monitoring and for us as a club moving forward, it is important that we work within these parameters.

"I mentioned some of the challenges we have earlier on in terms of the challenges we have in terms of European competition to domestic competition and the revenue differences that come with that. It is about making sure the level of investment in the first-team squad and the club is commercial with the level of revenue we generate.

"That is why it is so important for us to continue to deliver that revenue and to continue to deliver new partners into the ecosystem as the more we do that than the more we can drive those revenue numbers higher and higher and invest in the team on the park.

"Financial sustainability, to me, is a path we are on and one we will continue to focus on, and I have every confidence we will succeed."