Despite the effects of COVID-19 last year, the Fiji Rugby Union managed to rise above the challenges and recorded a profit of $282,000 in the 2020 financial year compared to $88,000 in 2019.
This was revealed in the FRU Annual General Meeting at the Grand Pacific Hotel in Suva today.
FRU’s revenue reduced from $24m in 2019 to $13m in 2020.
The FRU Council endorsed the financial report and Chief Executive John O’Connor says the Rugby House staff were acknowledged for their sacrifices during the health crisis as they were on a 40% pay cut from March 2020 to almost the end of the year.
O’Connor says the non-participation of our teams in the World Series and other factors helped them to reduce costs and contributed to the surplus.
Two new Board Directors were appointed today which include Finance Director Trevor Nainoca and Muni Ratna who is a former executive of the Fiji Revenue and Customs Service.
The two replaced Berlin Kafoa and Bobby Naimawi who have opted to rotate out of the board as they didn’t seek re-election.