Taranaki Rugby records third consecutive surplus 

The Taranaki Rugby Football Union (TRFU) posted a total net surplus after extraordinary items of $43,426 for 2024.

The result was announced at the 139th Annual General Meeting of the TRFU held at the Bell Block Rugby Sports & Community Club last Thursday evening.

This result was in line with the original 2024 budget but given the significant and unexpected drop in New Zealand Rugby funding midyear this was a very positive result.

The reduction in New Zealand Rugby funding was offset through growth in grant funding and commercial revenue.

2024 commercial income rose by 10% against the previous year, excluding Bunnings NPC semi-final and grand final income from 2023.

Positive non-financial outcomes for 2024 included a 42% uplift in Bunnings NPC regular season home attendances versus corresponding 2023 matches, a small rise in grassroots playing numbers to 5,461 local participants and the Yarrows Taranaki Bulls securing the Ranfurly Shield.

Pleased with the 2024 year, TRFU Chair, Dan Radcliffe stated “for the third year in a row, the TRFU has posted a profit - this year by $43,426. The year was not without its financial challenges, as we continued to operate in tough economic conditions, NZ Rugby dropped our funding unexpectedly by over $100,000 mid-year and we completed our final year of operating with half of Stadium Taranaki for the Yarrows Taranaki Bulls and Central Roofing Taranaki Whio seasons.”

“As we move through 2025, we continue to face some financial headwinds, with NZ Rugby’s underperformance against financial forecasts resulting in a further $240,000 funding drop this financial year. Despite this, the TRFU are optimistic about the year that lays ahead as we finally move back into a full Stadium Taranaki, and with some strong financial discipline, we are confident we will post a profit again for 2025.”

"In addition to the financial result, 2024 was another strong year for Taranaki Rugby, with total player numbers in the region stabilising after a strong year of growth (13%) in 2023.”

Radcliffe thanked those individuals and organisations who supported delivering the Taranaki Rugby vision of creating memorable experiences.

In 2025, Taranaki Rugby will be looking to grow commercial revenue and manage increasing overheads while also progressing Te Whare Pūngao o Ngā-motu, a new collaborative community training facility at Stadium Taranaki.

An exciting opportunity presents in 2025 with Taranaki Rugby returning to a fully renovated Stadium Taranaki. This will enable the commercial team to maximise hosting and networking opportunities with the Taranaki business community.

Appointed Director Sarah Mako was successfully appointed to another term on the TRFU Board.

Co-opted Director Nathan Gray was successfully nominated by the Southern Rugby Club as an Elected Director on to the TRFU Board.

Image credit: Taranaki Rugby Football Union.