University of Derby - £7.2m profit hailed as record

A record annual operating profit of £7.2 million has been posted by the University of Derby. The figures represent a £4.5 million increase on last year's figure. The university hailed the results as a sign of the transformation of its financial fortunes from six years ago, when it had a £2.2 million deficit. Hari Punchihewa, pro vice-chancellor and finance director, said the profit had been achieved alongside "significant" investment in teaching and learning facilities. "This is made affordable by the continuing delivery of an operating surplus," he said.