Profits up at BBC Worldwide
BBC Worldwide saw profit jump by 36 per cent in 2009/10, with sales up by seven per cent.
The commercial and wholly-owned subsidiary of the British Broadcasting Corporation (BBC), today published its Annual Review for 2009/10.
Sales were £1,074m in the 12 months to 31st March 2010, exceeding the £1 billion mark for a second year. Six of BBC Worldwide’s seven operating divisions grew sales, despite tough trading conditions in many markets. Operating profits increased 36.5 per cent to £145.2m, with double-digit profit growth in five divisions.
BBC Worldwide also delivered increased dividend payments to the BBC of £73.6m (2008/09: £68.4m). This helped lift the overall cash return to the BBC to more than £150m for the second year running.
Announcing the results, John Smith, chief executive of BBC Worldwide, said the full year figures reflected a very strong performance in spite of difficult conditions in many markets. he commented: "Today’s figures demonstrate that our strategy is working. As well as developing into a diversified global media business and extending the international visibility of the BBC brand, the company is delivering a strong financial performance. BBC Worldwide continues to give consumers around the world more and more content from the BBC and other British production companies. This allows us to re-invest in more great content and return more cash to our parent organisation, the BBC.”
Robert Webb, chairman of BBC Worldwide, said: “Our underlying aim is to give the best possible return to licence fee payers to deliver a real benefit to the UK’s creative economy. To that end, we have invested more than £1bn through payments to the BBC, independent production companies, writers and actors since 2004/05. We hope, as the next year develops, to continue to be of value to the UK, to the BBC and to all who enjoy what we do.”
Social Links