The Fiji Rugby Union (FRU) has reported an impressive surplus of $1.6 million in its 2023 annual report, marking a significant recovery from a $1.6 million loss in the previous year. FRU Trust Board Chairman Peter Mazey highlighted the organization’s resilience and effective financial management that has led to this turnaround.
In 2022, the FRU generated $21 million in income against expenses totaling around $23 million. In contrast, the 2023 financial standing has improved substantially, with income rising to $27 million. Although expenditures also increased to $25.5 million, the union successfully turned a profit.
Mazey expressed optimism about the future of the FRU, stating that the results illustrate the union’s positive trajectory. He also mentioned that resolutions from various unions have been received and will be addressed at the upcoming Annual General Meeting (AGM) on Saturday, where the 2023 financial report will be presented, and seven board members will be appointed.
This financial recovery is a positive indicator for the Fiji Rugby Union, reflecting solid governance and strategic planning that could lay the groundwork for further achievements in the rugby sphere.
Overall, this turnaround not only benefits the FRU but also sets a hopeful precedent for sports organizations facing financial challenges.
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