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The Nelson Mandela Bay Stadium had generated income to the tune of R46.2m by the end of February, which is 90% of its annual anticipated revenue.
According to a report on the provisional financial performance of the stadium up to the end of February, the year-to-date variable event expenses total R22.9m generating a gross profit from events of R23.3m.
Revenue at the stadium has received a substantial boost from Super 15 Rugby, as well as the annual IRB 7's tournament that is played at the end of the year.
The report says total operating expenditure for the first eight months of the financial year was 64% of the expected operational budget for the year.
Fixed operating costs, including facilities maintenance for the same period amounted to 60% of the annual budget.
(Source: Metro Minute to subscribe mail metminutes@iafrica.com)
