Fiji News From Around The World

Illustration of FRU records $1.6 million profit for the 2023 Financial Year

Fiji Rugby Union Bounces Back with $1.6 Million Profit!

Spread the love

The Fiji Rugby Union (FRU) has announced a commendable surplus of $1.6 million in its 2023 annual report, marking an impressive recovery from the previous year’s financial challenges. FRU Trust Board Chairman Peter Mazey highlighted this turnaround, noting that the union had faced a loss of $1.6 million in 2022.

In the previous year, FRU’s income totaled $21 million, while expenses reached approximately $23 million. However, in 2023, the organization increased its income to $27 million, even as expenditures rose to $25.5 million. Despite the rise in spending, the union managed to finalize the year with a profit, demonstrating a robust strategic financial management approach.

Mazey expressed optimism for the future of the FRU, indicating that the recent results reflect the organization’s positive trajectory. He also announced that resolutions from the unions will be reviewed at the upcoming Annual General Meeting (AGM) on Saturday, where the 2023 financial report will be presented. Additionally, the AGM will see the appointment of seven new board members.

This achievement not only showcases the resilience of the Fiji Rugby Union but also sets a hopeful precedent for fiscal responsibility and growth in the sports sector. The turnaround highlights the potential for recovery and progress, ensuring a sustainable future for rugby in Fiji.

Overall, this financial success could serve as an encouragement for other sports organizations facing similar challenges, proving that with strategic planning and teamwork, recovery is possible.


Comments

Leave a comment

Latest News

Search the website