10th January 1999
ULH IN THE BLACK FOR TENTH YEAR RUNNING
The University of Lincolnshire & Humberside showed a healthy profit in the last financial year, bucking a national trend which has seen universities chalking up a loss of around £250 million.
ULH had a surplus of £2.7 million in 1998/9 despite having to make provision for redundancies at its Grimsby campus.
The full financial position of the University of Lincolnshire & Humberside will be revealed in March when its Annual Report for 1998/9 is published.
“These figures reflect the financial well-being of the university, which has recorded a surplus every year since its incorporation in 1989,” said the university’s Vice Chancellor, Prof Roger King.
“This surplus has been achieved despite significant investment in new buildings and estate.”
The university has already spent £50 million on its new Lincoln campus and is currently investing a further £11 million in science and sports facilities.
It has also invested heavily in its city centre presence in Hull and has bid to build a £50 million campus at Island Wharf between the river Humber and Hull Marina.
News that the University of Lincolnshire & Humberside is still in the black comes just days after the University of Hull announced a £5 million loss for the same period.
There a working group has been set up to find solutions to the university’s financial problems.
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Note to reporters:
The University of Lincolnshire & Humberside recorded a historical cost surplus of £2.5 million in 1997/8.
For more information contact: Jez Ashberry, Press and Media Relations Manager
University of Lincolnshire & Humberside (tel: 01522 886042)