QRU: $2m Surplus for 2011: ARU Repaid 2 Years Early

[RedsHappy]

This is posted solely in celebration of competent franchise management and success for a heartland of Australian rugby, where sustained failure would have been fatal:

Queensland Rugby reports $2 million surplus for 2011

Queensland Rugby has reported a surplus of $2 million dollars for 2011; it was announced at the Annual General Meeting.

Queensland Rugby’s 2011 financial result of a net profit of $1,460,000 after depreciation ($625,000) is a remarkable turnaround compared to the substantial losses reported in 2010 and 2009.

The result was underpinned by outstanding success across all commercial revenue streams. A sharp focus on membership strategy saw the St.George Queensland Reds Army grow 183% to 15,626 members in 2011, while match ticket sales increased on average by 46% and Corporate Hospitality sales grew 200%, resulting in an increase in revenue of 38%.

As a result of Queensland Rugby’s continued strengthening financial position, the QRU board has been able to disband the Special Executive Committee (SEC) two years ahead of schedule after repaying its loan to the ARU.

QRU Chairman Rod McCall paid tribute to the ARU, in particular CEO John O’Neill and former ARU Director Dick McGruther for their support over the last two years and stated that the success Queensland Rugby has achieved both on and off the field would not have been possible without the ARU’s backing.

These significant achievements were announced to members and stakeholders at Queensland Rugby’s Annual General Meeting on Saturday where former Reds and Wallaby player, Mr Mark Connors became the newest member of Queensland Rugby’s nine-man Board of Directors.
.......
Queensland Rugby’s success on and off the field in 2011 were the returns from a three-year business strategy which was designed to consolidate and reform the game in Queensland.

 

[Penguin]

Outstanding! May it long continue.

 

[andyq]

great stuff,

the shake up the QRU had when they realised they were broke has obviously been working off the field as well as on it (well, success last year. the jury is still very much out on this year)

 

[Moses]

Well done Reg, turned the whole organisation around.

 

[Sully]

Fantastic news for all Reds fans. Reg was the real difference.


Sent using Tapatalk on a very old phone

 

[Bruce Ross]

Keep working on accumulating surpluses, boys. You may yet have to bail out the parent body.

 

[Sully]

I think we have to work on importing AFL CEO's for every franchise.

 

[Bowside]

I hear the plan is to expand the borders of the QRU southward and westward until we reach the ocean in both directions.

At which point the wallabies will ditch the gold for a more tasteful maroon strip, and the coat of arms will be shifted slightly to make way for Australia's other iconic fauna, the koala.

 

[Sandpit Fan]

Dammit Bowside, I thought Reg had given you the word to keep quiet on the masterplan. You've delayed progress years man..

 

[p.Tah]

I hear the plan is to expand the borders of the QRU southward and westward until we reach the ocean in both directions.

At which point the wallabies will ditch the gold for a more tasteful maroon strip, and the coat of arms will be shifted slightly to make way for Australia's other iconic fauna, the koala.

So you're "Queenslander-ising" us? So when do we expect the lobotomies?

 

[liquor box]

I hear the plan is to expand the borders of the QRU southward and westward until we reach the ocean in both directions.

At which point the wallabies will ditch the gold for a more tasteful maroon strip, and the coat of arms will be shifted slightly to make way for Australia's other iconic fauna, the koala.

I dont know if a wallaby jersey with goat footprints or cheetah prints would be too popular, I would rather just a red jersey than moroon

 

[Inside Shoulder]

I dont know if a wallaby jersey with goat footprints or cheetah prints would be too popular, I would rather just a red jersey than moroon

Reds fine with me - anything but the current regime!

 

[Bowside]

Reds fine with me - anything but the current regime!

I look forward to quoting this out of context in the politics section.

 

[Inside Shoulder]

I look forward to quoting this out of context in the politics section.

Might still be be aplicable......

 

[wamberal]

Well done the Reds. However, if a franchise cannot make a profit during a season in which they play finals games at home and actually win the thing, they never, ever would.

It would be really interesting to know whether the St George Bank sponsorship increased because of the win, big crowds, huge ratings, etc. I bet the bank marketing exec who promoted the Reds sponsorship is pretty happy with himself. Or, herself.

 

[qwerty51]

Ha that's what I was thinking, who the hell doesn't make a strong profit when the team wins the competition with home advantage throughout the finals.

 

[Inside Shoulder]

Well done the Reds. However, if a franchise cannot make a profit during a season in which they play finals games at home and actually win the thing, they never, ever would.

Thats true but dont overlook the fact that s. 15 season 2011 followed very closely on the Queensland floods and 2010s results would have kept some people from committing to a season ticket.

 

[Sully]

Frankly I was much more excited about paying our debt back 2 years early than making a profit. But you glass half empty guys go for it.

 

[wamberal]

Frankly I was much more excited about paying our debt back 2 years early than making a profit. But you glass half empty guys go for it.

The glass is pretty full. Who said that it is half empty, or only half full? The game seems to be booming in the Deep North. Except on the field, but I suppose we can hope that the tide will turn soon.

 

[AngrySeahorse]

I dont know if a wallaby jersey with goat footprints or cheetah prints would be too popular, I would rather just a red jersey than moroon

To me they looked like hickeys. Why not go for a technicolor jersey, psychedelic man. I'm sure if the up & down performances of the Wallabies continues this year we'll all be reaching for some of those muffins with a "special ingredient".

Very happy for the Reds by the way, financial turn around like that is a massive effort.