WRU announces record turnover
October 1, 2012
Success in the 2012 Six Nations contributed to the WRU's impressive financial results © Getty Images
The Welsh Rugby Union has announced a record turnover and record-equalling profit for the last financial year.
Despite the Welsh regions struggling financially, with the lure of the euro proving to be too much for the likes of Luke Charteris and Gethin Jenkins, the WRU is in rude health. The WRU has accrued pre-tax earnings of £27.6m which is 6% up on last year. It also announced the highest turnover in its 131-year history - £63.2m - which is 16% up on 2011.
The impressive figures allowed £20m to be reinvested back into the game and the WRU has also reduced its debt by £7.4m to £18.8m - this means it hopes to be debt free by 2021. The WRU has enjoyed a 44% increase in turnover over the last five years, helping the organisation become the most successful Tier 1 Union in world rugby in terms of its compound annual growth between 2007 and 2011.
The record turnover was aided by their hugely successful Six Nations campaign and a run to the semi-finals of the 2011 World Cup. This, in turn, helped increase revenue generated from television rights deals, match-day ticket sales and commercial activity.
WRU chief executive Roger Lewis said: "The results we announce today are clear evidence of how our robust reforms and adherence to clear business strategies across the past five years are paying off with success for Welsh rugby both on and off the field.
"We have recruited and developed great people, reformed our systems and structures and delivered a raft of new initiatives aimed at sustaining and developing rugby as the national sport of Wales. This has translated into financial and sporting success and gives confidence that the WRU is clearly in the right shape to meet the challenges of the future.
"We have also taken risks, always measured, and we have not been afraid to face up to the challenges that we have encountered over the course of the past five years. To record a 44% growth in turnover across the past five years is a remarkable achievement the WRU can rightly be proud of, but we will not ease up on our commitment to develop within the aims we have defined in our five year rolling strategic plan. The best is yet to come. Our financial performance is the engine to drive our rugby forwards."
© ESPN Sports Media Ltd.
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