South African Rugby Union Reveal Pre-Tax Profits
By Community | April 9, 2013
The South African Rugby Union (SARU) have announced pre-tax profits of 6.2 million rand (US$684,393) for the year ended December 31, 2012, it announced at the organisation’s annual meeting today.
Group revenue rose 15 percent to US$75 million from $65 million, due mainly to an increase in income from broadcasting rights, sponsorships and home tests, which were typically depressed in the 2011 rugby World Cup year.
That rise was offset by group operating expenditure, which increased by 20 percent, largely due to costs associated with the hosting of the test at FNB Stadium and the IRB junior World Cup.
SARU CEO Jurie Roux said: “The overall position remains reasonably healthy – despite the macroeconomic situation.
“However, cash reserves ($1.09 million) are significantly lower than those of the previous year.”