The RFU has announced record profits before tax of £14.5 million for its year ending 30th June 2000. The results came after reaching breakeven the previous year following on from two years of heavy loss making. The financial highlights of the year are set out on the attached sheet together with a summary financial report from Nick Eastwood, RFU Finance Director.

Francis Baron, Chief Executive of the RFU said ‘The record results for last year are a tribute to the hard work and dedication of all involved, whether full time or volunteer. Our focus on getting the business fundamentals right is bearing fruit and the improving financial strength of the Union will benefit all levels of the game, particularly the grass roots, through increased investment’.

FINANCIAL HIGHLIGHTS

Year Ended 30th June 2000, the profit and loss account highlights in the year were as follows:

Gross revenues up 19% to £41.8m

Net revenues up 23% to £32.2 million

Operating profit up 59% to £5.6 million

Profit before tax record of £14.5 million against breakeven

Profit after tax record of £12.6 million against loss of £0.6 million

The principle balance sheet highlights in the year were as follows:

Net worth up 35% to £47.8 million

Reserves record of £9.9 million against a deficit of £2.7 million

Cash balances up 136% to £23.9 million

For Further Information Please Contact:

RFU Media Office:
Tel: 0208 831 6513/6514/6558/6626