NZRU posts 1st operating profit in five years as AIG sponsorship makes difference

Tue, 26 Mar 2013

By Paul McBeth March 26 (BusinessDesk) - The New Zealand Rugby Union has posted its first annual operating profit since 2008, beating its own target, helped by a five-and-a-half year deal with global insurer AIG. The NZRU made an operating profit of $3.2 million in the 12 months ended Dec. 31, beating the breakeven target flagged last year, and turning around an operating loss of $3.1 million in 2011, it said in a statement. "The new partnership with insurance company AIG has made a difference," chief executive Steve Tew said. "We have sec...

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