THE University of Plymouth made a surplus of £24.1 million in the past year, after increasing the number of foreign students and making 91 staff redundant.
Newly published documents show the university made job cuts via a “targeted voluntary redundancy scheme” and restructuring programmes, which it said were vital to “ensure longer term financial sustainability”.
The university’s newly published annual report and financial statements for the year to the end of July 2024 show that almost £3m was paid out to staff who were let go. It also reveals that it collected a £7.6m increase in tuition fees, with more than half of it from foreign students.
The 93-page document said the university had “performed well” to deliver an operating surplus of £24.1m and said it was the result of strong financial management, particularly in controlling the institution’s costs.
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