University cuts losses but warns tough times lie around corner

EDINBURGH'S Queen Margaret University cut its losses last year, but has warned of further funding constraints and rising staff and energy costs.

The university saw a 2.6 million increase in its operating costs, including a 1.6m rise in staff costs because of pay awards and increased pension contributions.

The accounts showed that former principal and vice-chancellor Professor Anthony Cohen, who retired last summer, saw his final annual pay package increase to 194,000 from 171,000.

Total income for the university in the year to 31 July rose by 4.2m to 35.2m – partly as a result of increasing student numbers – although 2.5m of the increase related to grants and compensation connected to its delayed move to a purpose-built campus in Musselburgh.

The deficit for the year was cut to 2.3m from 3m the previous year.