The blindness charity Royal National Institute of Blind People made a loss of £12.6 million in the year to 31 March 2017, the charity’s latest accounts show.
The accounts, which were released on the Companies House website at the end of last week, show that RNIB’s total income for the year was £119.2 million, compared with expenditure of £132.8 million.
The charity made net gains of £1 million on its investments, leading to an overall loss of £12.6 million.
A spokesman for the charity said £4.3 million of the overall losses related to exceptional costs for the restructuring and reorganization of the charity, with the remaining operational loss of £8.3 million for 2016/17 “a £1 million improvement of £9.3 million on the previous year”.