Queensland Rugby Union announce $1.48 million loss in 2015

Queensland Rugby Union (QRU) has announced a loss of $1,483,696 before depreciation for the 2015 financial year at the Annual General Meeting at Ballymore today. While QRU has continued to build scale and volume over the last seven years, the performance of the St.George Queensland Reds had a material effect on many of its revenues. QRU CEO Jim Carmichael said: “Despite major challenges in 2015, we were able to put in place mitigation plans through the year whilst delivering all of our community related programs to all levels of our game as planned. This culminated in $8 million worth of Queensland Rugby direct and indirect investment into the grass roots of our code across the state.” QRU Commitments post Budget  • The introduction of the National and State Participant contributions was a significant reform for the game. However, in consultation with QRU stakeholders, a reduction of $200,000 was agreed post budget through a reduced state contribution. Furthermore, the introd
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