The 2021 profit is detailed in the university annual report, to be released today. It follows a $259 profit in 2020 (CMM February 8 2021)

“This result would not have been possible without your dedication and commitment through these testing times,“ Vice Chancellor Margaret Gardner tells staff.

The result is due to,

*  $124m in “higher-than-expected teaching revenue”

* a $118m drop in non-salary costs

* $22m in lower wages, “delivered from the reductions made in 2020.”

But while Professor Gardner warns of a decline in teaching income to come, she commits to, “no further cuts to teaching and research,” in the next two years of revenue decline.” And the university will be, “able to avoid further redundancies.”

Last year Professor Gardner called the 2020 result “a buffer for the future”  – which could now include the next enterprise agreement. Last month the National Tertiary Education Union increased its all-university pay rise demand to 15 per cent, from the original 12 per cent, (CMM, April 21).