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RFU move back into the black with annual report showing encouraging operating profit
The Rugby Football Union moved into the black in 2018/19 as it turned an operating profit of £14.9million, its annual report has revealed.
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Stronger sponsorship revenues, additional games staged at Twickenham and a reduction in overall rugby investment and costs enabled the governing body to turn its financial picture around after it recorded a loss of £24.4m the previous year.
Total group revenues rose from £172.4m to £213.2m, of which £100.5m was reinvested in the game at professional and community levels compared to a sum of £107.7m over the previous year.
RFU chairman Andy Cosslett said: “Maintaining the Union’s financial stability requires prudent planning, financial discipline and, when necessary, strong action to be taken on costs.
“Over the past two years we have felt it necessary to take such action in response to revenues falling short of some ambitious forecasts and a more uncertain outlook.
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“Parts of the game that rely on our financial support and many RFU departments were asked to cut back.
“While this work has been difficult and presented challenges, investment levels in the game remain high. During the year, the RFU invested £100.5m in the game, and the financial position of the Union has strengthened.”
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– Press Association
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