22 Nov 2011

RFU reports record revenues despite turmoil

5:10 pm on 22 November 2011

The English Rugby Football Union has reported record annual revenues and operating profit despite management upheaval off the field.

The sport's biggest and richest union says it will be able to repay 'comfortably' by December next year a bank loan used to develop the South Stand at Twickenham, rendering the Union effectively debt-free.

Group revenues for the year ending on June 30 increased from 112 million pounds ($177 million) to 136.3 million, largely driven by the match programme of four internationals and three Six Nations Games.

Operating profit was 40.6 million, up 14.8 million, sales of corporate hospitality packages increased by 17 percent with 21,000 sold and ticket income grew by 8.7 million to 30 million pounds.