ABERYSTWYTH Arts Centre has posted the worst financial results in its history, making a major loss for the third year in a row and sparking renewed fears for its future as Aberystwyth University continues its “restructuring” of the facility.

The arts centre posted a loss of £467,000 in 2015/16, accounts have shown, 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 £1,725,000.

The centre last made a profit over a decade ago in 2006, when it brought in £20,000.

Jobs at the facility have been lost as a result of the university’s recovery plan - with a ‘formal restructuring’ of the arts centre continuing.

The university has offered voluntary redundancy packages to several staff at the arts centre as losses mounted.

The university has not confirmed how many jobs have been axed at the centre.

Despite the job cuts, the centre posted its worst financial results in its history.

Income at the centre fell by over £400,000 from last year, dropping to £3,043,000 from £3,489,000 in 2013/14. Expenditure also fell, but only by £176,000.

A university spokesperson said that, despite the continued losses, the institution remains committed to the arts centre.

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