The Fiji Rugby Union (FRU) has reported an impressive surplus of $1.6 million in its 2023 annual financial report, marking a significant recovery from the previous year’s loss of the same amount. FRU Trust Board Chairman Peter Mazey highlighted this turnaround, noting that the union’s income increased to $27 million in 2023, a substantial increase from the $21 million earned in 2022.
Despite a rise in expenses to approximately $25.5 million, the FRU managed to post a profit. Mazey expressed optimism about the union’s future, indicating that these results demonstrate progress in a positive direction. He also mentioned that resolutions from union members have been received and will be addressed during the upcoming Annual General Meeting (AGM) on Saturday, where the financial report for 2023 will be presented. Additionally, the AGM will see the appointment of seven new board members.
This financial turnaround reflects the effective management and strategic planning within the FRU, setting a promising foundation for growth and sustainability in the future. The union’s ability to rebound after a challenging year not only highlights resilience but also opens up new possibilities for investment in rugby initiatives and community engagement.
In summary, the Fiji Rugby Union’s $1.6 million profit in 2023 not only signifies financial stability but also inspires confidence in the union’s capacity to thrive in the coming years. This positive momentum could lead to exciting developments within Fijian rugby, benefiting players, fans, and the broader community.
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