The Welsh Rugby Union has revealed a turnover of £54.3 million in its 2011 annual report.
The encouraging figure, achieved during tough economic times, is slightly short of the governing body’s record turnover of £58.4m.
The WRU says that since 2007, overall turnover has jumped by 24% with the amount invested back into the game up by 30% over the same period.
In year-end 2011, the WRU allocated £19.3m into the elite and community game across Wales.
The highlights of the report are:
a profit before interest, tax, depreciation and allocations of £26.2m
the £19.3m re-invested into the elite and community games
a reduction in net repayable bank debt to its lowest ever figure of £26.2m
a decrease in our bank interest charge from £2.6m to £0.8m
a raft of new and renegotiated sponsorship and broadcast deals
a renegotiated international player payment deal for five more years
a Group turnover of £54.3m
WRU Group Chief Executive, Roger Lewis, said: “I am delighted we have been able to maintain our financial and operational course through a financial year marked by turbulence in the wider economy.
“The reforms, structures and senior staff recruitments brokered in the last few years are now paying off with the WRU enjoying a growing reputation as an organisation capable of sound and strategically robust management.
“While taking account of the challenging marketplace we still managed to achieve our core aims and maintain the advances and improvements of the past few years.
“We currently have the financial stability necessary to plan properly for the future and we will stay focused on our priorities of supporting our national teams, working closely with our four Regions, the Premiership clubs and sustaining and developing the community game.”