NZ Rugby turns to a full-year loss as it increases provincial funding

Wed, 16 Mar 2016

By Sophie Boot March 16 (BusinessDesk) - New Zealand Rugby turned to a loss in 2015 and is budgeting for that loss to worsen this year as the national sports administrator increases funding to financially challenged provincial rugby. NZ Rugby posted a loss of $463,000 in the year to Dec. 31, from a profit of $373,000 a year earlier, the rugby union said in a statement. Income rose 11 percent to $133.7 million, while costs increased 12 percent to $134.3 million. Cash reserves fell slightly to $59.1 million from $62.6 million a year earlier...

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