Australian Rugby Union Narrows Losses Thanks To A$21M Increase In Revenue
The Australian Rugby Union said at its annual general meeting in Sydney that it posted a loss of A$8.3M in '12 due to higher expenses "despite a surge in revenue from the previous year," according to EUROSPORT. The loss narrowed by A$2.3M from the last year as total revenues rose by A$21M from '11 to A$96.6M. Gross expenditure increased by A$17.2M as a higher currency also impacted the results. ARU Chair Michael Hawker said, "While revenues were higher than the previous year, so was expenditure, which was primarily due to our continued investment in the game." Revenue "was boosted by a rise in sponsorship money while higher match day returns due to the increased domestic Test fixtures also contributed to the growth" (EUROSPORT, 4/22).