Following a tough year, the HTA has increased its percentage take from the National Garden Gift Vouchers (NGGVs) scheme. This will bring in an additional £170,000, also helped by increased efficiency gains.
The Plant for Life promotion ended last autumn and the HTA has not renewed the scheme, saving £100,000 on staff and other spending. Maxted said: "The situation has been retrieved."
Flat income from NGGVs, lower returns on investments and a loss from re-evaluation of the HTA's Theale headquarters led to the shortfall. Income was flat at £26.645m last year. The association employs 40 staff.
Meanwhile, Stan Green will stand down as the association's acting president at the group's AGM next month to make way for Caroline Owen, who will take over for a year.
Growforth managing director Green took over the presidency from Carol Paris last month when she became director-general. Green said he hopes to return in 2014 after a redevelopment of his Fife business.