NZRL Announces $505,000 Surplus for Period Ended March 2012

NZRL Announces $505,000 Surplus for Period Ended March 2012

Auckland, May 23, 2012 - New Zealand Rugby League is very pleased to report an audited surplus of $505,000 for the financial period ended March 31, 2012. Having changed its financial year end from December to March, these accounts cover the period January 1, 2011 to March 31, 2012.

Chairman Scott Carter said the result was particularly satisfying given the ongoing growth and development of the game across a number of areas, and highlighted that the positive result now means NZRL has achieved the reserve it requires for the World Cup in 2013.

Said Carter “We are constantly focused on operating within our means which requires us to build a reserve prior to each World Cup as, in the World Cup year, our income from international games is significantly reduced. We had set the goal to have our reserve in place by December 2012 and to have achieved it now is especially pleasing.”

Jim Doyle, NZRL CEO agrees "It is very pleasing to see that thanks to a lot of hard work, careful planning and financial management the organisation has for the third year in a row posted a surplus.

“This is an extremely positive result as not only have we achieved our required 2013 reserve in advance, we have at the same time increased our investment into continuously growing and developing our game and improving our brand in line with our ’GamePlan’.

“We continue to see growing support from our numerous partners. With sponsors like Pirtek and Autex returning and new partners continuously coming on board we remain focused on delivering our many strategic initiatives, on and off the field, ensuring our sport is more than just a game.”

The March 2012 result featured consolidated revenues of $7.1 million, up from $5.91 million in 2010.

Chief executive Jim Doyle advised income was generated primarily from Kiwi test matches, SKY Network TV broadcasting rights, SPARC (now Sport NZ) funding, grants and commercial sponsorships with the additional income from last year largely attributed tothe additional test match against Australia and an increase in commercialsponsorship.

Expenses also rose to $6.6million compared to $5.59 million in 2011, with Doyle highlighting increased commitment to game development throughout the country, the new National Secondary Schools tournament, the on-going development of the National programmes, National Competition, and the addition of NZ Resident 16s & 18s programmes.

He said the financial result once again rounded off another largely successful year for the NZRL but highlighted that due to limited international fixtures during 2012 and 2013 (excluding the RLWC) NZRL’s income will be reduced over the next couple of years.

ENDS

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