The Fiji Rugby Union (FRU) has achieved a noteworthy financial milestone, reporting a surplus of $1.6 million in its 2023 annual report. This represents a significant recovery from the previous year, when the union incurred a loss of $1.6 million.
In 2022, the FRU’s income totaled $21 million while expenses reached approximately $23 million. However, in a commendable turnaround for 2023, the FRU increased its income to $27 million. Although expenditures rose to $25.5 million, the organization managed to secure a profit of $1.6 million. Peter Mazey, Chairman of the FRU Trust Board, expressed optimism regarding the union’s future, indicating that this financial improvement is a positive sign of progress.
Additionally, Mazey mentioned that resolutions from the unions have been received and will be addressed during the upcoming Annual General Meeting (AGM) on Saturday, where the 2023 financial report will be presented. The AGM will also involve the appointment of seven board members.
The FRU’s impressive turnaround not only highlights effective financial management but also sets a hopeful precedent for growth and stability in the future of Fijian rugby. This success story can be an inspiration for other sports organizations facing financial challenges.
Summary: The Fiji Rugby Union has reported a $1.6 million profit for 2023, reversing a previous year’s loss. The organization has improved its income and is heading towards a bright future as it prepares for its AGM, where pivotal decisions will be made.
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