Steve Tew 'very pleased' with NZRU's profits

SIMON PLUMB
Last updated 11:05 25/03/2014

Relevant offers

Rugby

Referee Review: Angus Gardner in top form in Super Rugby Adam Ashley-Cooper: 'I will always put my hand up to play for Australia' Hurricanes look forward to tough Super Rugby playoff push after toppling Reds Leon MacDonald to replace Aaron Mauger as assistant coach at Crusaders Super sire Sundon's legacy to live on Hurricanes and Chiefs stay ahead of the pack The Chiefs can't afford a repeat of Force effort against Rebels Tim Nanai-Williams hopes to transfer Chiefs form to sevens Happy hooker Hika Elliot making the most of second chance with the Chiefs Concussed Richie McCaw in doubt for Super Rugby blockbuster clash with Hurricanes

The New Zealand Rugby Union have announced reduced profits of $2.9 million - but that's still $2.1m more than they had budgeted to make.

Unveiling the organisation's annual report in Auckland this morning, NZRU chief executive Steve Tew said he was "very pleased" with the result which also saw cash reserves increase to $63.7m and all provincial rugby unions get themselves back in black.

"It is very pleasing to have followed up an exceptional year on the field for New Zealand Rugby with a second successive annual profit," Tew said.

The 2013 profit reflected a $10m lift in income to $117m and an increase in costs by $11m to $114m.

Much of the increase in revenue was down to the NZRU's controversial decision to sell advertising space on the All Blacks jersey.

"We enjoyed a strong year commercially being the first full year with our new major global sponsor," Tew said.

Further down the national structure, all provincial unions also recorded profits, with a combined surplus of $3.3 million - compared to $620,000 in 2012 when only nine of 14 unions operating in the black.

"This improvement is a tribute to the hard work unions have put in to contain costs and safeguard their commercial revenue in what has been a very challenging economic climate now for some years," Tew said.

"Obviously there is no room for complacency. We must all continue to keep a close eye on costs and work hard to retain the support of fans and our commercial partners as we strive together to keep the game strong."

Ad Feedback

- Fairfax Media

Special offers
Opinion poll

Who was the best-performed All Blacks forward on the northern tour?

Dane Coles

Nathan Harris

Keven Mealamu

Wyatt Crockett

Charlie Faumuina

Ben Franks

Owen Franks

Joe Moody

Brodie Retallick

Luke Romano

Jeremy Thrush

Patrick Tuipulotu

Sam Whitelock

Sam Cane

Jerome Kaino

Richie McCaw

Liam Messam

Kieran Read

Vitor Vito

Vote Result

Featured Promotions

Sponsored Content