The Fiji Rugby Union (FRU) has announced an impressive financial turnaround, achieving a surplus of $1.6 million in its 2023 annual report. This marks a significant recovery from the previous year, when the union experienced a loss of $1.6 million.
In 2022, the FRU reported an income of $21 million against expenditures that totaled approximately $23 million. However, in 2023, the organization managed to increase its revenue to $27 million. Although expenses rose to $25.5 million, the union’s ability to generate a profit demonstrates effective management and a positive trajectory under the current leadership.
FRU Trust Board Chairman Peter Mazey expressed optimism about the future, stating that the financial results indicate the organization is progressing in the right direction. He also noted that resolutions from the unions have been received and will be addressed at the upcoming Annual General Meeting (AGM) scheduled for Saturday. During this meeting, the financial report for 2023 will be reviewed, and seven new board members will be appointed.
This financial success not only reflects the FRU’s resilience and ability to bounce back but also sets a strong foundation for future growth and development in Fijian rugby.
Summary: The Fiji Rugby Union has turned around its financial fortunes, reporting a $1.6 million surplus in 2023, a significant recovery from last year’s loss. The organization has increased its income and will discuss future plans at its upcoming AGM.
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