Saru reports R6.2 million profit

2013-04-05 15:21

The SA Rugby Union (Saru) has reported a group profit before taxation of R6.2 million in 2012.

Group revenue rose to R689 million – up 15% from the 2011 level of R597 million, it was announced at the organisation’s annual general meeting in Cape Town today.

Saru said this was mainly due to an increase in income from broadcasting rights, sponsorships, and home Tests, which were depressed the previous year due to the Rugby World Cup.

The rise was offset by group operating expenditure, which increased by 20%, largely due to costs associated with hosting a Test match at FNB Stadium and the IRB Junior World Cup (six percent), national teams (four percent), development of the game (four percent), and staffing costs (three percent) following the rugby body’s operational restructuring in late 2011.

“The overall position remains reasonably healthy, despite the macroeconomic situation,” said Saru chief executive Jurie Roux.

“However, cash reserves (R10 million), are significantly lower than those of the previous year, due partly to an increase in loans and advances to and amounts receivable from provincial unions, and partly to non-recurring capital expenditure incurred mainly on the relocation to new premises.”

Roux said Saru had budgeted for a modest rise in revenues in 2013, although there would be a commensurate increase in expenses.

Join the conversation! encourages commentary submitted via MyNews24. Contributions of 200 words or more will be considered for publication.

We reserve editorial discretion to decide what will be published.
Read our comments policy for guidelines on contributions. publishes all comments posted on articles provided that they adhere to our Comments Policy. Should you wish to report a comment for editorial review, please do so by clicking the 'Report Comment' button to the right of each comment.

Comment on this story
Comments have been closed for this article.

Inside News24

Traffic Alerts
There are new stories on the homepage. Click here to see them.


Create Profile

Creating your profile will enable you to submit photos and stories to get published on News24.

Please provide a username for your profile page:

This username must be unique, cannot be edited and will be used in the URL to your profile page across the entire network.


Location Settings

News24 allows you to edit the display of certain components based on a location. If you wish to personalise the page based on your preferences, please select a location for each component and click "Submit" in order for the changes to take affect.

Facebook Sign-In

Hi News addict,

Join the News24 Community to be involved in breaking the news.

Log in with Facebook to comment and personalise news, weather and listings.