Waratahs Rugby Record Profits for Second Year Running

Waratahs Rugby Limited has recorded a net operating profit for the second year running, doctor despite a disappointing season in the Super Rugby League.

The club posted a net operating profit of AU$64,745 ($67,031) for 2012 after contributing over AU$1m ($1.03m) to the community game through license fees and other grants to the New South Wales Rugby Union.

In 2011 Waratahs Rugby recorded a profit of AU$49,990 ($51,756) and the 2012 result is the state’s best result in six years.

Chairman Roger Davis was happy with results and said: “After a disappointing Super Rugby campaign, this result was a particularly pleasing outcome for management, sponsors, fans and players and reflects the commitment of the Board to ensuring we have a profitable, vibrant and successful professional rugby team that is well positioned to capitalise on all future opportunities to grow the game in the state of NSW.”

“In the face of a reduction in funding from the Australian Rugby Union of $300,000 and a similar decrease in membership revenue compared to 2011, Waratahs Rugby’s operating profit was only achieved by an unrelenting focus on costs, which decreased by $360,000, and by improving match day experience, resulting in a $300,000 increase in game revenue versus 2011.

“The achievement is in no small way due to the work ethic and commitment of an outstanding executive team, ably led by our CEO Jason Allen.

“To Jason and his team, I provide extensive thanks for steering us through the troubled shoals and pitfalls that were 2012 and for delivering an operating profit for the year.”