UCC posts €2.8m net deficit despite boost from IMI acquisition

UCC’s acquisition of the Irish Management Institute (IMI) was a major driver of a 7.7% increase in the university’s income to €371.7m in 2017, according to its latest accounts.

However, UCC still reported a net deficit of almost €2.8m for the year ending September 2017 after a sharp rise in staff costs and other operating expenses. It followed a surplus of €562,000 the previous year.