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In 2008/09 BBC Worldwide passed, for the first time, the significant milestone of £1bn in sales, at a time of global recession. This increase is attributable to the excellent quality and choice of programmes, channels and products we offer and sterling work by our people around the world, as well as our biggest-ever investment programme in new business opportunities.
While this investment programme, and a number of exceptional items, produced a reduction in profits year on year, as forecast, our underlying profitability remained healthy and grew in line with the increase in turnover to a figure in excess of £150m.
We are proud to have continued to play an important part in supporting and promoting Britainís creative industries and to have championed the very best personal and environmental values in our own business and those of the companies we work with.
I am confident that this well diversified business is now strongly placed to take full advantage of opportunities that will arise from improved economic conditions.
John Smith, Chief Executive, BBC Worldwide
Unless otherwise stated, sales include share of joint-venture sales and profit/(loss) is stated before interest, taxation and exceptional items. Exceptional items include both Group and share of joint-venture exceptionals.