9 Feb 2009

Otago Rugby Union reduces losses

10:42 am on 9 February 2009

The Otago Rugby Union has managed to reduce its financial losses in 2008.

After depreciation, the union lost $467,000 for the 12 months compared to $1.5 million the year before.

Chief executive Richard Reid says the difference to 2007, prior to depreciation, is more than $1 million. He says this was achieved through a mixture of greater income (partly through a Springbok Test) and considerably less expenditure.

He says ensuring the union remains a financially viable business, in 2009 and beyond, continues to be a high priority.