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WRU post promising figures

Welsh Rugby Union Limited has announced a pre-tax profit of £26.2million.

As a result, the organisation has managed to reduce its debt to banks to £26.2million, while allocating £19.3million into the elite and community game across Wales.

WRU Group chief executive Roger Lewis said: "I am delighted we have been able to maintain our financial and operational course through a financial year marked by turbulence in the wider economy."

Cardiff hosted both major European finals, with the climax to the Heineken Cup taking place at a sold-out Millennium Stadium and the Amlin Challenge Cup showdown going ahead at the home of the Cardiff Blues.

The figures were also helped by the Millennium Stadium hosting Wales' Euro 2012 football qualifier against England.

Lewis added: "The reforms, structures and senior staff recruitments brokered in the last few years are now paying off with the WRU enjoying a growing reputation as an organisation capable of sound and strategically robust management.

"While taking account of the challenging marketplace we still managed to achieve our core aims and maintain the advances and improvements of the past few years.

"We currently have the financial stability necessary to plan properly for the future and we will stay focused on our priorities of supporting our national teams, working closely with our four regions, the Premiership clubs and sustaining and developing the community game."

WRU group finance director Steve Phillips said: "Although our turnover, as anticipated, has reduced on the previous year we have posted an end of year surplus by carefully managing our costs and being disciplined and sensible with our spending plans in line with our income.

"There is no doubt that the wider economic climate remains challenging but our year-end figures show that we are in good shape going forward."

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