Rugby: Union posts surplus for second year running

Taranaki Rugby

Photo: LDV Photography

The Taranaki Rugby Football Union posted a net operating surplus of $154,593 for 2023, an improved financial position on 2022 and against the 2023 budget.

Operating income rose 26% in 2023 over 2022 and operating expenses were up 23% in 2023 over 2022.

The result was announced at the 138th Annual General Meeting of the TRFU held at the Toko Rugby Club on Wednesday.

TRFU Chair Dan Radcliffe was pleased with the strong financial result.

"Despite our success on the field, we are still operating in a very challenging financial environment,” he said. “To post a profit in a year where we still had access to only half of Yarrow Stadium, limited corporate hosting and tough economic conditions, a lot of credit needs to be given to Mike, his management team and the entire TRFU staff.  

“Revenue gains through commercial partnerships, Chiefs shares and a home Yarrows Taranaki Bulls Bunnings NPC Final were some of the main factors that assisted the TRFU in delivering a surplus amongst a backdrop of increased costs. 

“The business is tracking towards a healthier financial position to weather any unforeseeable storms that may come our way. 2024 will be an important year to consolidate on the success of 2023 before we have a full Yarrow Stadium at our disposal in 2025.

"In addition to the financial result, 2023 was a fantastic year for rugby in Taranaki on the pitch culminating with a memorable Bunnings NPC title in long time Principal Partner Yarrows the Bakers centenary year and a full time return to Yarrow Stadium, the spiritual home of Taranaki Rugby.

“Arguably, just as significant in terms of success was the 13% growth we saw in community playing numbers across the province. At a time when not only rugby, but sport in general is struggling with participation, to post strong growth in playing numbers is a huge win for the game here in Taranaki and a great reflection on the work being put in by clubs, Taranaki Community Rugby Trust RDOs and the wider TRFU community team."

Radcliffe thanked those individuals and organisations who throw their support behind creating memorable rugby experiences in Taranaki.

Mike Summerell was successfully nominated by the Coastal Rugby Club for another term on the TRFU Board as an Elected Director.

Scott Ireland and Kylie Hawker-Green were successfully nominated as Appointed Directors of the TRFU Board replacing Marise James and Peter Tennent. James and Tennent retire from office after delivering outstanding governance service to the TRFU over six and eight years, respectively.

TRFU President Cherry Blyde retired after a two-year term with Vice President and Yarrows Taranaki Bulls Centurion Kevin Barrett becoming the new President.

Former Yarrows Taranaki Bulls Head Coach and Centurion Colin Cooper was appointed Vice-President of the TRFU after being nominated by the Clifton Rugby Club.