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.