19 April 2012

RMIT reports strong financial results

RMIT University, Australia's largest tertiary institution, recorded a surplus of $55.6 million in 2011.

The University's Annual Report, tabled in State Parliament yesterday, shows that the University increased revenue to $817.3 million from $806.6 million in the previous year.*

For the consolidated group, revenue increased to $882.8 million from $869.4 million.

More than $207 million was invested during 2011 in facilities, library and information technology infrastructure across RMIT for the benefit of students, staff, industry partners and the community.

RMIT Vice-Chancellor and President, Professor Margaret Gardner AO, said: "While competition for students has continued to increase, RMIT has strengthened its positioning as the global university of technology and design.

"The University reaffirmed its excellence in global education, achieving a five-star rating in the QS Stars evaluation system."

2011 marked the 10th anniversary of RMIT's operations in Vietnam. Starting with only 30 students, RMIT Vietnam now has more than 7,000 students and is the largest international branch campus of any university in the world.

RMIT's performance enables it to continue investing in education and research. Construction of the Design Hub and the Swanston Academic Building progresses apace.

RMIT opened its Advanced Manufacturing Precinct at the City campus, a new lecture theatre complex at the Bundoora campus, and a $US15.2 million student accommodation and recreation complex at the Ho Chi Minh City campus.

RMIT's commitment to transforming the lives of its students was maintained through equity scholarship schemes. Overall, the University awarded more than 2,000 scholarships. A total of 922 Schools Network Access Programs students were enrolled.

The prospects of RMIT students are considerable, with the 2011 QS World University rankings indicating that RMIT graduates are ranked 51st in the world by prospective employers.

Investments in improving outcomes in learning, teaching and research continued, with the RMIT Learning and Teaching Investment Fund supporting 30 projects aimed at enhancing teaching practice and learning outcomes, significantly through improved use of technology for interactive learning.

RMIT's research linkages with some of the world's leading educational institutes enable knowledge to cross borders.

A new research centre with the Indian Institute of Chemical Technology is focusing on environmental and industrial research and is RMIT's first collaborative research footprint in India.

The Guangdong Provincial Hospital of Traditional Chinese Medicine signed a multi-million dollar agreement with RMIT for research into the benefits of herbal medicine and acupuncture for managing chronic respiratory diseases.

* Excluding the effect of income received from the Commonwealth for deferred superannuation benefits.

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RMIT has strengthened its positioning as the global university of technology and design.