No money worries in Wellington

Tue, 09 Apr 2013 07:26
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Wellington Rugby has announced a second consecutive profit for the first time in six years after doubling their profit from 2011.

Whilst a modest profit of $27,000, it represents a significant result for the union in these constrained times, especially as the result is more than double the $12,000 profit recorded the year before.

Wellington Rugby Chairman Tony Duffin commented: "2012 was a year full of highlights for Wellington Rugby and now we can top off the year with recording a successive profit.

"The securing of the Hurricanes licence and obtaining the 50% cornerstone share in the franchise was a positive move forward for rugby in the Capital," he said.

The balance sheet is healthy with the Union continuing to be debt free.

Wellington Rugby CEO, James Te Puni added: "Considering the current economic climate and the pressures faced in rugby, it is good to achieve this result and remain debt free.

"A sound financial result sits alongside an 8% increase in community playing numbers and improvement on the pitch for the Wellington Lions.

"The increase in profit also shows the commitment made to meet financial targets and reflects Wellington Rugby's strong focus on sustainability," he said.