Rugby Football Union announce £8.7m profit

The Rugby Football Union have revealed that they have achieved record financial results for 2011.

Revenue for the year from July 2010 to June 2011 increased by £24.3m to £136.3m, with operating profit up by £14.8m to £40.6m.

The retained profit for the year was £8.7m compared to a retained loss of £1.1m in 2009/10.

"In a year which presented many challenges, this is a significant achievement," said acting chief executive Martyn Thomas.

"The RFU's record revenues mean that the game benefits because although the union works to maximise profits, unlike a PLC we then invest this in the sport.

"These results put us in a very strong position for the lead-up to Rugby World Cup 2015 which will bring a unique opportunity to grow the game nationwide, while creating a lasting legacy."

The RFU are currently seeking a new coach for the England national team following Martin Johnson's decision to resign last week.