- RFU Annual Report & Accounts released
- Investment in rugby as a whole up 15% on 2011/12
Photo: RFU Archive
The RFU Annual Report & Accounts, published today (Friday, November 15), show Group revenue for 2012/13 reaching over £150m for the first time in the RFU’s history and record investment in rugby as a whole, rising to just under £64m – up 15% on 2011/12.
RFU CEO Ian Ritchie said: “This was an outstanding year in which continued growth allowed us to make record investment directly with clubs and in operating the English game at all levels. We have made significant strides across the board allowing us to invest an additional £3.5m in grassroots rugby, largely thanks to a busy calendar of Twickenham events.
“Our unsecured loan granted by new banking partner RBS is allowing us to upgrade Twickenham Stadium in readiness for our hosting of the Rugby World Cup in 2015 and there is much to look forward to throughout the game.”
Chief Financial Officer Stephen Brown added: “We have successfully concluded the first year of our Strategic Plan and look forward to achieving our objectives through sustained and growing investment in rugby up to and beyond the Rugby World Cup in 2015.
“During 2012/13 revenue increased by £42.9m, from £110.6m to £153.5m, driven by the full match programme and increased sponsorship. Hospitality and catering remains our single largest revenue stream and increased by £9.9m, due to the number of major international matches, increased attendances at other matches and additional concerts and non-match day events.
“The retained profit for the year of £3.8m was achieved after delivering significant growth in rugby investment. The RFU’s profit and loss reserve now stands at a very healthy £20m which, together with strong financial projections, enable us to comfortably accommodate the fluctuations of the four-year Rugby World Cup match cycle while maintaining investment in all levels of the game.”
Highlights for the year included:
- Record £153.5m revenue
- Investment in rugby as a whole rise of 15% over previous year
- Publication of five-year Strategic Plan
- Twickenham Experience Ltd highest ever net profit to the RFU of £4.9m
- The hosting of 25 event days, with nine completely sold out
- Five concerts hosted for the first time during a financial year
- Commercial partnerships refined, making them more meaningful across the game
- Continued investment and preparation for Rugby World Cup 2015
- First year of Lead Up & Legacy work
- UNITY project launched, helping development of rugby in 17 European nations
- The first season of complete integration of the women’s game into the RFU
- Professional Rugby Review facilitates creation of Professional Rugby and International Performance departments
Visit www.rfu.com/annualreport to view the 2013 Annual Report in full.