The IRFU has reported a €7.3 million surplus for the 2013-14 season. The excess is due to improved sales for the November Series ticket sales and an increase in prize money after a successful Six Nations.
The November international series last year included matches against Samoa, Australia and New Zealand, while Ireland went on to win the Six Nations under new coach Joe Schmidt. The provincial teams also performed strongly with Leinster winning the Pro 12 League in the RDS in May.
The success resulted in a smaller than expected cash deficit of €1 million compared to the 2012-13 figure of €4.5 million after all items were taken into consideration.
The strong financial performance means that more money can now be disbursed to the provinces and into club rugby around the country.
"We were very pleased with the increased ticket sales for the 2013 Guinness Series. Success off the pitch was matched by big performances on it and the RBS 6 Nations prize money, in particular, has provided a welcome boost," said IRFU treasurer Tom Grace in a statement.
“The 2013/14 season demonstrated once again that supporting the national team at the Aviva enables the IRFU to continue to make significant funds available to the professional and domestic games.”
Bective Rangers' Louis Magee was also elected 127th president of the IRFU.
Meanwhile, the International Rugby Board has welcomed an independent study carried out by The British Journal of Sports Medicine. Prior to the introduction of the Pitch Side Concussion Assessment (PSCA) players were treated on the field and on the run, resulting in 56 per cent of players returning to the field of play and later determined to have concussion.
The study has shown that the number of players returning to the field of play who were later determined to have sustained a concussion has reduced to 12 per cent with the PSCA intervention playing a major role in cultural change.
In order to accommodate the expanded PSCA and following a successful pilot trial, the IRB has approved an increase in the time permitted to undertake the assessment from five to 10 minutes. The new trial has been operational since June 1.
"We are committed to changing culture via research, expert medical guidance and ensuring that players, coaches, match officials and parents at all levels recognise the symptoms of concussion and remove any player with clear or suspected concussion," said IRB chief executive Brett Gosper.
