The Fiji Rugby Union (FRU) has reported an impressive surplus of $1.6 million in its annual report for 2023, showcasing a significant recovery from the previous year’s loss of the same amount. According to FRU Trust Board Chairman Peter Mazey, the change reflects the organization’s successful financial strategies and resilience.
In 2022, the FRU’s income was recorded at $21 million, while its expenses totaled around $23 million. However, the union has made commendable strides in 2023, increasing its income to $27 million. Although expenses rose to $25.5 million, the FRU’s ability to turn a profit underscores a positive trajectory for the organization. Mazey expressed optimism about the FRU’s future, indicating that the union is on the right path.
During the upcoming Annual General Meeting (AGM) on Saturday, Mazey confirmed that the resolutions from the unions would be addressed, and the financial report for 2023 would be unveiled. Additionally, the meeting will involve the appointment of seven new board members, marking an important step in the governance of Fiji Rugby.
This turnaround in financial health not only demonstrates the FRU’s potential for growth but also sets a hopeful tone for the future of rugby in Fiji, allowing for better investment in the sport and its players.
In summary, the FRU’s financial turnaround is a testament to effective management and a promising outlook, which can inspire confidence among fans, players, and stakeholders alike.
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