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Eden Project is back in the black after job cuts
2:10pm Monday 16th June 2014 in News
The Eden Project has made a profit for the year up until March 2014, after a loss the year before and a raft of job losses. However turnover at the attraction fell by £1,622,996.
The attraction is back in the black after its worst-ever year in 2012/13, with accounts showing a trading surplus of just over £2m for the year to March, against a loss of over £1.3million for the year before.
The strategic report which accompanies the accounts states that there were 68 staff redundancies during the year 2013/14 and nearly 50 further roles were not replaced when people left the business through resignation.
The results of this restructuring were reflected the annual savings of more than £4million. Turnover for the period amounted to £17,504,928, a drop of £1,622,996 on the previous year.
Following the "turnaround" of 2013/14, Eden will now continue its progress towards long-term financial stability.
The attarction says that board’s priorities for the coming year are:
- The continued success of both the visitor destination at Bodelva and existing projects such as Big Lunch and Big Lunch Extras.
- The development of a range of accommodation on site at Eden (subject to planning consents).
- The development of new educational partnerships for the delivery of formal education provision at the Eden site and possibly beyond.
- The further extension of the Eden brand into targeted, commercial areas with a view to extending the reach of the charitable mission.
Adding that the board believes that Eden’s long-term ambitions will be "best served by ensuring that the organisation is substantially debt-free within five years and repayments will continue to be made during 2014/15, in order that this can become a reality".
David Harland, Eden Project finance director, said: “These results show that Eden has turned the corner after a difficult year in which we had to make some very hard decisions. We have lost valuable staff in a painful restructure process but by cutting costs across the board we have ensured that the project is now on a very sound footing.
“The year ahead is an exciting one. We are recruiting again and have recently announced a partnership which will see us employ 20-25 apprentices this year. We are working with the YHA to establish a hostel on the Eden site and are looking forward to our biggest-ever summer programme, Dinosaurs Unleashed.”
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