The merger process to create Scotland’s new rural college has hit its financial performance.
But SRUC chairman Lord Lindsay said it would be wrong to solely judge the new organisation on profitability alone.
SRUC was formed last October through the merger of the Scottish Agricultural College and the Barony, Elmwood and Oatridge further education colleges.
Lord Lindsay said SRUC had invested heavily in making the merger a success and that was among the main reasons for its figures being below what SAC had reported in previous years. But SRUC declined to reveal figures for the year to March 31 before its accounts are signed off by auditors. It would only say the results were “in line with its expectations”.
The merger had resulted in 50 voluntary redundancies, funding for which had come from it, the Scottish Government and Scottish Funding Council.
Lord Lindsay said the business was otherwise strong. He accepted the merger had led to the new college having a huge asset base and large estate, but it would be incorrect to make any hasty decisions on selling anything thought to be surplus off – a view shared by Education Secretary Mike Russell.
A process had started to review all facilities and match the college’s needs with those. Only after that is completed would any decisions be made.
Chief executive Professor Bob Webb said with a turnover of £75million – and with education, research and consultancy arms – SRUC was twice the size of any other equivalent agricultural organisation in the UK. SAC alone had a turnover of £54million in 2011-12.
But Prof Webb conceded that while its advisory and research profiles nationally and globally were good it needed to do more to raise awareness of its education offering in Aberdeen, Edinburgh and Ayr so it could achieve the same recognition as its smaller, but better known rivals.
The process towards achieving that will start next summer as SRUC is to seek its own education and research degree awarding powers to become a university college in 2015. Its degrees are currently awarded by Glasgow and Edinburgh universities and Prof Webb said those links would continue.
“You cannot underestimate the importance of achieving this (awarding our own degrees),” he told the college’s annual dinner in Edinburgh.
That would give the college a badge of honour and bring it on to the radar of increasing numbers of international students.
Mr Russell said the merger had been successful, with the new college developing partnerships and focusing more on the needs of rural employers.
He added: “I believe the SRUC can transform learning and research in the land-based sector, and enhance the prospects of a generation, ensuring our young people are fully equipped to become the rural workforce of the future.”