Cate Blanchett and Andrew Upton take their second bows leading STC into record profit.

With one of Australia’s most high-profile celebrity actresses as the face of the company, the STC has secured international stars, larger audiences, higher earnings and new corporate sponsors through a major fundraising push.

The Sydney Theatre Company’s annual report, released this week, announces an operating surplus of $919,860 for the 2010 calendar year, a 52 per cent increase on last year’s profit of $607,167. Blanchett and husband, playwright and director Andrew Upton, have headed the organisation as joint artistic directors for two seasons, following four years of deficit.

The company has diversified considerably under the leadership of Blanchett and Upton, who initially expressed concerns that these new directions posed a financial risk.  “Thanks largely to the diligence of our casts, our crews and our staff … this significant risk was (for the most part) averted”, they stated in the report.

“The net result for 2010 was a program that stretched the company and extended the audience. From our office, it was a great year to be a part of.”

The pair worked hard on stage and off for the company’s supper. Chekov’s classic Uncle Vanya, in a new...