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In previous years BBC Worldwide had focused on sales
growth and on BBC cash flow - money the company returns
to the BBC every year via profits and direct investments
into programme production. Profit is the normal measure
of financial performance and this year we've refocused the
whole company on that. Our target is to double profits in just
two years from £37m last year to £74m next year. This year
we increased profits to over £55m - a 50% increase.
This has been achieved through a combination of a
£5m reduction in costs, trading improvements and closure,
sale or turnaround of loss-making businesses. We've also
improved performance against the targets previously used
by BBC Worldwide. Sales, including the share of joint
ventures, are up 7% from £657m to £706m, and BBC cash
flow is up from £141m to £145m - a new record. To make
the company less complicated we have reorganised into
six businesses:
TV Channels
Our Channels business makes us the UK's number-one
international television broadcaster, with availability in over
320m homes around the world. The business comprises
wholly owned and joint-venture operations with partners
such as Discovery Communications Inc, Alliance Atlantis
Communications Inc, and |
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