Waikato Rugby Union 2009 Financial Result
3rd April 2010 07:55AM
The Waikato Rugby Union posted a net profit of $9374 for the year ending 31 December, 2009.
The Union's financial result and other key highlights of the year were presented at the Waikato Rugby Union's AGM held in Hamilton last night.
For the year ended 31 December, 2009, the Waikato Rugby Union posted:
- An operating surplus of $439,679 before depreciation;
- A net surplus of $210,023;
- Distributed $200,649 to clubs (the Union's stakeholders).
Waikato Rugby Union Chief Executive Graham Bowen said the result was extremely pleasing in what was a challenging year.
He stated that major contributing factors to this result included:
- A healthy return from the first-ever Investec Tri-Nations test match between the All Blacks and South Africa hosted by WRU. This match contributed significantly to the Union's positive end of year result.
- WRU staff took a voluntary salary reduction for four months at the end of 2009 - this saved the Union around $100,000.
- An increase in the Chiefs distribution to the Union in 2009, due to the success of the Chiefs making the final in that year. The Union received a $220,000 contribution compared to $15,000 in 2008.
"Under the circumstances this was a satisfactory result due to the above mentioned contributions. The Waikato Rugby Union is in a sound position going forward into what will be a challenging 12 months."
Meanwhile, Ken Moreland was appointed as the Waikato Rugby Union President for the next two years. Moreland has been the Union's vice-president for the past four years, is a former chairman and deputy chairman of the Council of Clubs, and has more than 40 years involvement in club rugby in the province.
Former Waikato player Steve Gordon was elected as vice-president. Gordon played 141 games for Waikato and 19 matches for the All Blacks in his extensive playing career. He has a strong interest in rugby in the region.
Waikato Rugby Union chairman Michael Crawford thanked Brian Clarke, the WRU President for the past four years, for his outstanding contribution to Waikato Rugby during his term as president.
Waikato Rugby Union directors Mark Hammond and Doug Wilson were also returned to office at the AGM.
