The Fiji Rugby Union (FRU) has reported an impressive financial turnaround, achieving a surplus of $1.6 million for the 2023 fiscal year. This represents a substantial recovery from the previous year, when the organization reported a loss of the same amount.
In 2022, the FRU’s income was recorded at $21 million, while its expenses reached about $23 million, leading to the notable deficit. However, in 2023, the union successfully increased its income to $27 million. Even as expenditures rose to $25.5 million, this strategic management allowed the FRU to conclude the year with a positive profit of $1.6 million.
Chairman Peter Mazey expressed optimism regarding the union’s future, highlighting that this financial success signals they are headed in the right direction. He also mentioned that resolutions from member unions have been submitted and will be discussed during the upcoming Annual General Meeting (AGM) scheduled for Saturday. During the AGM, the 2023 financial report will be presented, and seven board members will be appointed.
This positive financial performance not only showcases the FRU’s resilience but also strengthens its commitment to developing rugby in Fiji and its overall sustainability. With a robust plan moving forward, the FRU is poised for brighter days ahead.
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