ABERYSTWYTH Arts Centre, which has just got a new director, has posted a six-figure loss for the fourth year in a row, with losses since 2004 rising to nearly £2m.
The Cambrian News reported “The arts centre posted a loss of £201,000 in 2016/17, the university’s accounts show, despite costs coming down and income rising.
The centre lost £467,000 in 2015/16 – the worst in its history – eclipsing the £197,000 loss in 2014/15 and the £263,000 in 2013/14.
The centre’s combined losses since 2004 now stand at £1,926,000.
The centre last made a profit over a decade ago in 2006, when it brought in £20,000.
Income at the centre rose by over £250,000 from last year, from £3,043,000 to £3,301,000.
Expenditure, including staff costs, at the centre came down by £23,000 from last year.
The university has just announced the appointment of Dafydd Rhys as director, replacing Gareth Lloyd Roberts who decided to leave his post to go to “pastures new” in January 2017 after taking over from long-time incumbent Alan Hewson in 2013.
After Mr Lloyd Roberts’ appointment, the centre racked up combined losses of £927,000, and those losses have continued.
Mr Hewson, in a recent letter to the Cambrian News, said that the centre “was on target to reach a break-even point in 2012/13” before “draconian action in removing senior staff led to a destructive and turbulent period for the centre from which it has still not fully recovered.” In 2011/12 the deficit at the centre was just £23,000 on a £4.2m turnover.
A university spokesperson said that, despite the continued losses, the institution remains committed to the arts centre which remains an “integral part” of the institution” here.