From Hughes's takeover in 2010, when Bangor University made a £4.2 million profit, to 2017, the university's nominal income had risen by 12 per cent, but their expenditures by 19 per cent with the university's interests and finance costs (despite very low interest rates) soaring by 747 per cent.[46] In 2017/18, the university had to spend £10m in interest payments on its debts.