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ITM Cup

Bop announce profit

Bop announce profit

THE BAY of Plenty Rugby Union has recorded its third surplus in as many seasons.

It posted a profit of $51,025 for the 2010 financial year.

“We are pleased to announce a profit for the third consecutive year,” said chief executive Jeremy Curragh.

“This is a modest result achieved in difficult trading conditions.”

The BOPRU’s profit is more remarkable given many other New Zealand unions are losing money at a rapid rate of knots.

Its revenue increased by seven percent to just over $4.3 million.

Commercial revenue was also up 15 percent.

However, gate revenue was down 43 percent mainly due to the atrocious weather.

“It is pleasing to secure a profit even after the low gate achieved,” said Curragh.

“We budget conservatively with gate given it is so variable and a good match attendance should really be treated as a bonus.”

Despite its books being in the green, Curragh warned the union could not rest on its laurels given this year is shaping as a difficult one for provincial unions.

“These times are extremely tough and trading through 2011 with a Rugby World Cup and condensed ITM Cup Competition will put increased pressure on revenue.”

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