Munster Predict Small Loss For This Season

Phillip Quin Munster
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11 June 2018

Munster have budgeted to generate a small loss of €40k (£35k) for year-end June 2018 on revenues of €16.9m (£14.87m). Reduction in grant income from the IRFU and no gate income from hosting a touring international side were responsible for reduction of turnover by €0.9m (£0.8m) compared to the previous year.

The Munster Branch AGM took place last week at Bruff RFC with club representatives from around the province in attendance.

In line with figures forecasted at last year’s AGM, the financial accounts for year ending 30th June 2017 showed a surplus of €900K which equated to a cash-flow surplus of €300K.

In presenting the financial update, Munster Rugby head of finance and operations, Philip Quinn, with Munster Rugby finance chairman, Tom Kinirons, discussed the key points:

The primary driver of the projected cash-flow loss compared to the €300K surplus in the prior year was a reduction of €1.6M in the IRFU grant income. However, Quinn was keen to emphasise the excellent on-going support from the IRFU both in direct grant aid and flexibility and understanding around the Thomond Park loan.

Munster Rugby made a loan repayment of €2.6M to the IRFU in April 2018 having renegotiated the schedule of loan repayments with the governing body. That saw the province bring the loan balance down to €6.9M and commit to future annual repayments of €100K plus a share of certain future potential revenue generating initiatives.

It was another very positive season with regards to gate income

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