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Dateline: 14th December, 2003 £2.8m Down, But It's Getting Better The Royal Shakespeare Company's Annual Report for 2002/3 shows a deficit of £2.8m on the year, an increase of £443,000. Much of the extra deficit is directly attributable to the loss of financial support from the Corporation of London after previous artistic diector Adrian Noble withdrew the company's annual season at the Barbican. However, new artistic director Michael Boyd told board members at the company's AGM, almost two thirds of the savings required to clear the extra debt have already been made through cost cutting (including seven redundancies) and better financial management. "To secure artistic freedom for the RSC we must balance the books first," said Boyd. In the Forword to the Report, outgoing chairman Lord Wheedon admitted that the abandonment of a permanet London base was a mistaken decision and that the past few years had been "bumpy". However, he said, under Boyd's control, the direction in whcih the company is going is clearer. For more on this story, see this week's Midlands News. Please note that all three Archive indices are very long and will therefore take some time to download.
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