Cancer Research UK's income rose by 24 per cent to £665.5m last year

The charity's latest annual report shows an increase of £129m in the year to the end of March, including £76m from the sale of office space

Cancer Research UK's annual report
Cancer Research UK's annual report

Cancer Research UK’s income was up almost £129m last year, although £76m of this was exceptional revenue from the sale of office space in London.

The charity’s latest annual report shows that its overall income rose to £665.5m in the year to the end of March 2014, compared with £536.6m in the previous year.

Even without the £76m profit it made on selling  £80m-worth of office space used by researchers in central London, the charity’s income went up by almost £53m on the previous year to £589.5m.

Voluntary income was up by £28.3m to £400.4m, including a £20.6m increase in legacies to £163.1m and a £14.9m rise in direct giving to £123.4m.

Income from events was down by £4.2m to £54.5m and income from major giving and appeals fell from £19.1m in 2012/13 to £16.8m last year. Fundraising costs were up from £80m to £89.9m.

CRUK said that more than 550,000 people took part in its Race for Life events, raising more than £50m, and 55,000 people took part in its alcohol abstinence month Dryathlon, raising more than £5m.

The amount the charity earned by carrying out research rose from £73.6m in 2012/13 to £93.3m. Net retail income was up to £19.5m, from £17.4m in the previous year.

CRUK spent £540.1m over the course of the year, meaning it made a surplus of £125.4m, compared with £21.2m last year.

The researchers will move to the new Crick Institute building, a £160m research facility near King’s Cross station in London that CRUK is building with other organisations including the Medical Research Council and the Wellcome Trust, due to be completed next year.

The charity has agreed a short-term lease on the property it sold so the researchers can continue working in their current location until the Crick building is ready.

The charity’s highest-paid employee, who is not named in the accounts, earned between £230,000 and £240,000 last year. Its highest-paid employee received between £220,000 and £230,000 in the previous year.

A total of 195 employees were paid salaries of £60,000 or more, up from 189 in the previous year.

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