RESEND: NZ Rugby full-year profit shrinks by 86% as costs rise

Wed, 08 Apr 2015

(Removes stray wording in second paragraph) By Suze Metherell April 8 (BusinessDesk) - New Zealand Rugby's annual profit dropped about 86 percent as the national sports administrator's costs grew faster than its income. Profit shrank to $373,000 in the year Dec. 31, from $2.5 million a year earlier, the rugby union said in a statement. Income rose 3.2 percent to $120.8 million, while costs increased 5.3 percent to $120.2 million. Cash reserves were little changed at $62.6 million, from $63.7 million a year earlier. NZ Rugby returne...

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