Second year of strong financial performance

Second year of strong financial performance allows investment, growth and innovation

Unitec Institute of Technology will be investing in better infrastructure, opening a new campus in Albany and continuing to push forward innovation in teaching and learning after making a surplus of $8.8 million in 2010.

This is the second year that Unitec has made a surplus after launching a significant organisation-wide change and innovation programme in 2008 and means that our staff and students can expect to see a continuation of the substantial investment programme started in 2009.

Dr. Rick Ede, Unitec Chief Executive, says, "Ultimately our performance is measured by the quality of the education we provide and the contribution our graduates make to their communities and the country. By being an excellent business and ensuring strong financial management we create the opportunity to invest in our facilities and our people.

"This is even more important in the current tight funding environment where institutions don't just need to ensure they are financially viable but also demonstrate the positive contribution they make to the economy.

"During 2010 we have been able to further grow a substantial investment programme including a newly renovated dance studio; interior design space and three brand new student support centres because we made a surplus We have also been able to start a total overhaul and upgrade of our information management systems and have increased the training and development budget for our staff."

Other key investments during 2010 include:

• Substantial investment in our IT and information management infrastructure that has allowed us to roll out our eLearning strategy,
• the decision to open a new campus in Albany in August 2011, and,
• more training and development opportunities for our staff.

Dr Ede added, "These initiatives are about improving our students' learning experiences and maximising the part we play in Auckland and New Zealand's economic success.

"Skilled, adaptable and resilient graduates are vital for the social and economic success of Auckland, and our investment in our people and our systems is sharply focused on re-defining what an Institute of Technology should be so we can better deliver on the diverse needs of an increasingly complex and changing employment environment."

Unitec educates over 23,000 students from more than 80 countries in a wide range of courses from certificates and diplomas through to degrees and doctorates and across a wide range of applied professional and vocational areas.

Notes to editors
• Unitec operates four campuses across Auckland located at Mt Albert, Waitakere, North Shore (Takapuna) and Newmarket (shared with MIT). From August 2011 a new campus in Albany will replace the North Shore (Takapuna)campus.
• Unitec caters for a diverse cultural and ethnic mix of students, which includes school leavers, professionals studying to further their careers, international students, people training for jobs in industry and the trades, second-chance and adult students undertaking tertiary education for the first time, graduates returning to gain postgraduate qualifiacations, and people looking for a change career.
• The number of students at Unitec in 2010 was 23,837 up from 23,038 in 2009. This equates to 10,502 equivalent full-time students (EFTS) up from 10,165 in 2009.
• For a full copy of Unitec Institute of Technology's Annual Report 2010, please use the links below. If you require a hardcopy of the report, please contact Darren Horsman.
Ebook of the Annual Report 2010 (Main)
Ebook of the Annual Report 2010 (Financial)

ENDS

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