THE Welsh Rugby Union has ploughed more money into the grassroots game and the professional clubs at the expense of profit.

The governing body's annual report shows that it had a record turnover of £73.3million last year, up by 13 per cent, and that it reinvested £33million in the game.

Its debt reduced from £14.2 million to £11million and no longer has conditions attached and the WRU made a profit after tax of £100,000.

The total investment in community clubs increased by 16 per cent from £6.8million to £7.9million, principally due to the investment in the school club hub programme, in digital strategy costs associated with a conscious decision to better promote the community game and facility grants.

The investment in the Principality Premiership increased by 14 per cent to £1.6million and the investment in the regions, Newport Gwent Dragons, the Ospreys, Cardiff Blues and the Scarlets, increased by 12 per cent to £19.3million.

"We are delighted to once again be able to report a financial performance robust enough to increase our level of re-investment into Welsh rugby," said finance director Steve Phillips.

"As a result of the re-financing in June 2015, the net assets of the group significantly increased and the financial covenants of the new arrangement were improved in favour of the group.

"Consequently we have now taken a strategic decision to seek to re-invest more into the game rather than retaining any profits to enhance net assets."

When the WRU refinanced in 2015 they were able to remove the banking arrangements that meant they had to retain profits of around £2million, allowing them to reinvest in the game below Test level.

"Our clubs, the community game and all the players, coaches and other volunteers at that level are the lifeblood of our national sport," said chief executive Martyn Phillips.

"We are proud to be able to say that all the group's revenues have been re-invested back into the game and that investment is at record levels in each of the regional, Premiership and community game, as well as on an overall basis.

"This is pleasing as the percentage growth in the reinvestment in rugby is broadly tracking the percentage growth in revenues."