Wales: WRU enjoy record turnover

The WRU returned pre-tax earnings of £27.6million, a rise of six per cent from the previous year.

The WRU's turnover of £63.2million for the year ending June 30, 2012 was also the highest in its 131-year history and an improvement of 16 per cent on 2011.

This allowed over £20million to be reinvested into all levels of the game and, in addition to refinancing over the year, saw the Union's net debt reduced by £7.4million to £18.8million, the lowest it has been since the Millennium Stadium was built in 1999. It leaves the WRU on course to be debt free by 2021.

The WRU have enjoyed a 44 per cent increase in turnover over the last five years, helping the organisation become the most successful Tier 1 Union in world rugby in terms of its compound annual growth between 2007 and 2011.

The figures were boosted by a season of on-field success for the national side, including a third RBS 6 Nations Grand Slam in eight seasons and a run to the semi-finals of the 2011 World Cup in New Zealand.

Television rights deals, match-day ticket revenue and increased commercial activity were also identified as key factors.

WRU chief executive Roger Lewis said: "The results we announce today are clear evidence of how our robust reforms and adherence to clear business strategies across the past five years are paying off with success for Welsh rugby both on and off the field.

"We have recruited and developed great people, reformed our systems and structures and delivered a raft of new initiatives aimed at sustaining and developing rugby as the national sport of Wales.

"This has translated into financial and sporting success and gives confidence that the WRU is clearly in the right shape to meet the challenges of the future.

"We have also taken risks, always measured, and we have not been afraid to face up to the challenges that we have encountered over the course of the past five years.

"To record a 44% growth in turnover across the past five years is a remarkable achievement the WRU can rightly be proud of, but we will not ease up on our commitment to develop within the aims we have defined in our five year rolling strategic plan. The best is yet to come. Our financial performance is the engine to drive our rugby forwards.

"I want to thank my outstanding executive team, the WRU Board for allowing us the space to get on with the job, and particularly all of the staff of the WRU Group for their exceptional commitment and dedication. On a personal note I thank my Finance Director, Steve Phillips, for his wise and prudent counsel and Warren Gatland for his commitment and dedication to Welsh rugby."