WRU announces record £97m turnover in annual report

Wales won all three of their home games in the 2018 Six Nations

The Welsh Rugby Union has announced a record turnover of £97m in its annual report.

The figure represents a 30% increase in revenue from the previous financial year's figure of £74.9m.

The WRU says it has reinvested a record £42.8m into rugby in Wales, while also retaining a profit of £2.3m ahead of a projected loss next season.

The annual report says the Principality Stadium debt, which was about £75m when it was built in 1999, is now £6.2m.

The report provides a breakdown of the WRU's financial performance until 30 June, 2018.

The main economic driver remains hosting international rugby matches, increasing by £9.9m from £35m to £44.9m and represents 46% of the Union's overall income.

The WRU put some of its improved margins result from hosting an extra Six Nations match in Cardiff.

There has been a record income from non-rugby events at the Principality Stadium, with a £4.8m profit up from £2.1m the previous year.

Ed Sheeran was the first artist to play four successive nights at Principality Stadium

Concerts including four nights of Ed Sheeran, Coldplay, the Rolling Stones and Beyoncé and Jay-Z, plus two sold-out world title boxing bouts featuring Anthony Joshua has seen the largest non-rugby footfall since the stadium was built in 1999.

"Our latest set of positive financial results are an endorsement of our strategy and testament to the high level of commitment and hard work of everyone involved in Welsh rugby," said WRU chairman Martyn Phillips.

There has been a record income from non-rugby events at the Principality Stadium, such as Beyonce and Jay-Z

Thousands of fans queued to see Beyonce and Jay-Z

"While we have had a good year financially, we haven't shied away from making the more difficult decisions and removing previous compromises - a move that will benefit the future sustainability of our game.

"Our core purpose focuses on laying long-term foundations to deliver a sustainable future for rugby in Wales.

"We know our income will decrease next year with a narrower window for concerts due to World Cup warm-up fixtures and a number of other factors, but have planned for this eventuality."