The New Zealand Rugby Union has recorded its first profit since 2008, posting a $3.2 million surplus for the financial year.
The profit is largely due to the signing of new sponsor AIG Insurance, but the NZRU's annual report says even before that deal was signed the union had forecast a $1 million surplus.
The organisation's cash reserves are now almost $52 million.
The NZRU chairman Mike Eagle says they can look back on 2012 with pride and satisfaction.
The All Blacks won 12 of 14 tests, the All Blacks Sevens won their 10th sevens World Series title while the Chiefs became the first New Zealand side since 2008 to win the Super Rugby title.
