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The Nelson Mandela Bay Stadium collected revenue of R46.9 million for the year ending June 30, 2014 which was 41% above budgeted revenue of R33.2 million.
In a report to the Budget Performance Monitoring Forum, Stadium Operator Access Management says the actual revenue exceeded budget despite the loss of revenue related to Super 15 Rugby and music concerts to the tune of R11.5 million.
The report states that actual general expenses exceeded budget by 75% due to event expenses increasing proportionately to the increase in income.
This specifically related to the IRB7s as well as the Test at the end of June.
Access says the actual gross operating loss at the end of the last financial year was just over R12 million.
(Source: Metro Minute to subscribe mail metminutes@iafrica.com)
