Fiji Time: 1:26 AM on Tuesday 1 December

Fiji Times Logo

/ Front page / Sport

New sponsorship helps FRU coffers

Zanzeer Singh
Sunday, June 01, 2014

THE Fiji Rugby Union recorded a profit of $63,716 for its financial period which ended 31 December 2013.

This is a major turnaround after posting a huge deficit of $606, 647 for the same period in 2012.

The income totalled $6,633,301 while the expenses were $6,569,585.

The major revenue was through sponsorships and International Rugby Board grants of $2,685,667 and $2,586,176 respectively.

FRU chairman Filimone Waqabaca said the board of directors worked hard to stabilise the finances after the 2012 loss.

Waqabaca said the securing of the $40million sponsorship for the next five years was a major milestone.

"The securing of the sponsor, much of it is owed to the composition of the board," he said.

"The composition of the board carried a lot of weight attracting this private sector to come together to support rugby. Hence we secured the $40m sponsorship.

"Likewise we have worked hard to get back the International Rugby Board funding which is on track now and they will be re-engaging. This board in seven months has turned around FRU from more than $600,000 loss to around $64,000 profit.

"We controlled the finances. There is still some way to go but we have done what we had planned all along in trying to work on stabilising the financial position of FRU. There are plans going forward."

Fiji Times Front Page Thumbnail

Kaila Front Page ThumbnailFiji Times & Kaila Frontpage PDF Downloads

Use the free Acrobat Reader to view.

Code Inward TTs Outward TTs
CAD 0.62770.6087
JPY 58.245555.2455
GBP 0.31180.3038
EUR 0.44300.4310
NZD 0.72440.6914
AUD 0.65530.6303
USD 0.47160.4546



Exchange Rate updated on 30th November 2015

Today's Most Read Stories

  1. Bomb threat
  2. Students drown, three dead over the weekend
  3. Terror attack survey ranks Fiji 11th out of 21
  4. Police chief refutes report
  5. Fury takes over titles
  6. Expect changes next year, says Kumar
  7. Event a success
  8. Hazelman makes top 16 in dance and costume
  9. Hazelman among top 10 in best Costume, Dances of world category
  10. Police upgrade stations to improve operations

Top Stories this Week

  1. Left for dead Wednesday (25 Nov)
  2. MV Suilven sinks Wednesday (25 Nov)
  3. 8 years for raping man Tuesday (24 Nov)
  4. Bomb threat Monday (30 Nov)
  5. MV Suilven sinks in Suva Harbour Tuesday (24 Nov)
  6. Torture suspects known to police Thursday (26 Nov)
  7. Sex assault claim Thursday (26 Nov)
  8. Sevens hurdle Tuesday (24 Nov)
  9. Father of two sent to prison Wednesday (25 Nov)
  10. Prasad, Reddy at odds Tuesday (24 Nov)