RFU still coining it
Fri, 15 Nov 2013 12:56
The RFU revenue for the last year reached over £150m for the first time in their history, with investment in rugby as a whole rising to just under £64m.
CEO Ian Ritchie commented: “This was an outstanding year in which continued growth allowed us to make record investment directly with clubs and in operating the English game at all levels. We have made significant strides across the board allowing us to invest an additional £3.5m in grassroots rugby, largely thanks to a busy calendar of Twickenham events.
“Our unsecured loan granted by new banking partner is allowing us to upgrade Twickenham Stadium in readiness for our hosting of the World Cup in 2015 and there is much to look forward to throughout the game.”
Chief Financial Officer Stephen Brown added: “We have successfully concluded the first year of our strategic plan and look forward to achieving our objectives through sustained and growing investment in rugby up to and beyond the Rugby World Cup in 2015.
“During 2012/13 revenue increased by £42.9m, from £110.6m to £153.5m, driven by the full match programme and increased sponsorship. Hospitality and catering remains our single largest revenue stream and increased by £9.9m, due to the number of major international matches, increased attendances at other matches and additional concerts and non-match day events.
“The retained profit for the year of £3.8m was achieved after delivering significant growth in rugby investment. The RFU’s profit and loss reserve now stands at a very healthy £20m which, together with strong financial projections, enable us to comfortably accommodate the fluctuations of the four-year World Cup match cycle whilst maintaining investment in all levels of the game.”
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