The Fiji Rugby Union (FRU) has reported an impressive financial turnaround, achieving a surplus of $1.6 million in its 2023 annual report. This marks a notable improvement compared to the previous year, when the organization recorded a loss of the same amount.
In 2022, the FRU’s income reached $21 million against expenses of about $23 million. However, in 2023, the union significantly increased its income to $27 million. Although expenses rose to $25.5 million, the union still managed to generate a profit of $1.6 million. FRU Trust Board Chairman Peter Mazey expressed optimism about the future of the organization, stating that these results indicate they are heading in the right direction.
Mazey also noted that resolutions from the unions have been received and will be discussed during the upcoming Annual General Meeting (AGM) on Saturday. The 2023 financial report will be presented, and FRU is set to appoint seven board members during the meeting.
This financial success not only highlights the resilience of the Fiji Rugby Union but also sets a positive precedent for its future operations. It reflects the potential for growth and stability within the organization, promising an exciting road ahead for Fijian rugby.
Summary: The Fiji Rugby Union has celebrated a strong financial recovery, reporting a $1.6 million surplus in 2023, a significant improvement from the $1.6 million loss in 2022. The union increased its income to $27 million while managing expenses of $25.5 million. The AGM on Saturday will address union resolutions and include a presentation of the financial report.
Leave a comment