Roger Lewis: Delighted with domestic investments in Wales
The Welsh Rugby Union have ploughed £22.1m into their domestic game after achieving record pre-tax earnings over the last financial year.
The WRU announced the encouraging figures in their annual report, which highlighted a investments of £4m sum for the community game and £4.2m into elite rugby union.
The governing body also invested £1m to help the Ospreys, Scarlets, Cardiff Blues and Newport Gwent Dragons develop and retain their best homegrown players in a bid to avoid a repeat of the dispute between the union and the regions earlier this year.
Chief executive Roger Lewis had forecast a more difficult financial year after the figures for 2012 returned a record turnover and a record-equalling profit.
Turnover was down £2.2m to £61m, but earnings before tax were up by £1.5m to £29.1m.
The figures were no doubt assisted by Wales clinching their fourth Six Nations title in nine years as well as the large contingent of Wales internationals selected for the Lions tour of Australia in the summer.
“The results we publish stand as clear confirmation that our business is now set on firm foundations and we are able to operate successfully even in challenging economic times,” said Lewis.
“This displays a direct link with the key changes we have put in place since 2006 with radical reforms of our financial and operational practices plus a robust recruitment policy.
“It costs money to fund radical change and nurture development so I am delighted that we have again been able to deliver meaningful and record levels of financial support within our priority areas of elite rugby, the community game and the Millennium Stadium.
“It is also a tribute to our success and our reputation that we are able to attract key executive staff of the calibre of Josh Lewsey as head of rugby and Mark Williams to become Millennium Stadium manager to join our outstanding executive board.
“Soon we will welcome the Rugby League World Cup opening ceremony and matches to the Stadium and we are already beginning to plan for the Rugby World Cup games we will host in 2015.
“These are great times for Wales and we are delighted to be playing our part in making this a great nation to be part of.”
Article source: http://www.walesonline.co.uk/news/wales-news/former-wales-rugby-star-gareth-6060792
WRU reveal record earnings and investment over last financial year
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