Ulster Rugby Annual Report 2015

CASH POSITION

Cash is always important for the Branch. Cash balances

have averaged over £1.5m for this year. The on-field

success continues to prove attractive to sponsors

and supporters alike, which has helped maintain

these strong cash balances. This enabled earlier loan

repayments to the IRFU than originally scheduled

reducing the impact of interest charges in 2015/16 when

the remaining £830,000 was repaid at the start of the

financial year. The loan for the Corporate Stand is now

fully repaid leaving no loan creditors on the balance

sheet.

OUTLOOK

The Professional Game continues to make up over 85%

of the Branch’s income. The financial success of the

Branch is more or less directly related to the success

of the team on the pitch through gate receipts and

sponsorship. Season ticket sales are trending closely to

last year and the expectation is that the target of 10,500

will be achieved.

During the year considerable time was devoted to

the appropriate strategy for the professional game.

Should Ulster cap spending at current levels and

risk a reduction in competitiveness and the knock on

effects on gate receipts and sponsorship, or, should

Ulster Rugby spend more in the coming seasons to

try to maintain and even increase competitiveness in

the league and in Europe. This latter approach was

proposed by the Management Committee before

being approved by the Branch through their adoption

of the budget for 2016/17. However, it is incumbent

upon the professional staff and senior volunteers

to review the cost base and consider additional

income generation and work with the IRFU to release

additional funding in order to minimise the actual

deficit outturn for 2016/17.

THANKS

The Professional Game depends upon the continued

goodwill of the local supporters, sponsors and other

partners who support the team throughout the year

and we thank all these people for their continuing