Crusaders return to black
December 19, 2012
The Crusaders are recovering from the effects of the Canterbury earthquake © Getty Images
The Crusaders have returned to profit after reporting an operating surplus of NZ$87,147 for the 2012 year.
It is a welcome boost for the Super Rugby franchise, which posted a financial loss in 2011 as a result of Canterbury's devastating earthquakes.
"We are very proud of this result, particularly given the ongoing difficulties that we are dealing with due to the earthquakes," Crusaders chairman Murray Ellis said.
"We are still working through our business interruption insurance claim from last year, and the loss of the original AMI Stadium in the earthquakes will continue to hit our bottom line for some time due to the reduced capacity for ticket sales and other costs associated with the new stadium.
"In saying that, if it weren't for the new AMI Stadium at Addington, this year's surplus would not have been possible. We are extremely grateful to the Government for driving this project and allowing our team to once again play at home in front of Christchurch and Canterbury fans."
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