Scot college back in profit

THE SCOTTISH Agricultural College is back in profit after seven years in the red.

Professor Bill McKelvey, chief executive and principal of the SAC, said the years of operating at a loss had been driven by over-borrowing and involvement in non-profitable businesses outside education.

“Some land has been sold for development, as we reorganise our capital base. Together with the Scottish Executive, we have invested £4m in our laboratories and infrastructure.”

Education accounts for about 20% of SAC business, with farm and veterinary consultancy generating about £20m turnover a year.

The college‘s extensive business transformation has received endorsement from Ross Finnie, the Scottish Executive‘s minister for the environment and rural development, whose department will provide £5m for further educational development over the next 20 years.

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