RFU reports profit of £14.9m in 2018/19

 

The Rugby Football Union (RFU) in its annual reports has revealed a profit of £14.9m at the end of the 2018/19.

This is a big boost to the England board as they reported a loss of £24.4m in the previous year with ticketing sales, sponsorship and broadcasting all playing their part in the increase of revenue which is now at £213.2m as compared to £172.4m in the previous year.

“The Union made good progress on a number of fronts despite the financial constraints we placed on ourselves," RFU chairman Andy Cosslett said in a release made by the board.

“Maintaining the Union’s financial stability requires prudent planning, financial discipline and, when necessary, strong action to be taken on costs. Over the past two years we have felt it necessary to take such action in response to revenues falling short of some ambitious forecasts and a more uncertain outlook.

"Parts of the game that rely on our financial support and many RFU departments were asked to cut back. While this work has been difficult and presented challenges, investment levels in the game remain high. During the year, the RFU invested £100.5m (2018: £107.7m) in the game, and the financial position of the Union has strengthened.”

The ticketing revenues saw an increase of 59% and accounted for £47.6m in the total revenues while Broadcasting, Sponsorship and Hospitality and catering income have also seen a rise of 21%, 12% and 32% but merchandising and licensing revenue saw a decline of 44%.

The funding from World Rugby has also increased by £0.6m which is a 9.2% increase from the previous year.

“Twickenham Stadium generate 85% of our revenues to invest in the game at both the performance and community levels," said CEO Bill Sweeney.

"We welcomed 1.2 million people across 22 major events during the year and the East Stand, which opened for the autumn’s Quilter Internationals, brought excellent feedback and added to the stadium’s status as a world-class venue.

“Numbers taking part in rugby union have remained stable, against a general downward trend in team sports over the past 12 months.

"Building upon an inherently healthy community game, we continue to focus on sustaining and enhancing men’s XV-a-side rugby, while growing women’s and girls’ playing numbers, which have substantially increased".

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