Ordnance Survey delivers profit as data use grows

Ordnance Survey delivers profit as data use grows

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Significant growth in the use of mapping and geographical data across both the public and private sectors was revealed in the Annual Report and Accounts of Ordnance Survey, presented to Parliament on 8 July 2004. The report also reveals that Ordnance Survey has successfully returned an overall operating profit for its first full five-year period as a self-financing Trading Fund, as well as exceeding the government-set target of securing a 9% annual average return on capital employed. Over the period from 1999 to 2004 it has also invested more heavily than ever before in new products, services and technology.

Commenting on the report Director General and Chief Executive Vanessa Lawrence said, “As customers have licensed more data, day-to-day running costs have been cut and business investment has continued unabated. The overall result is that we achieved an operating surplus which we will reinvest in further improvements to meet the growing demand for our data and for speeding its supply to users.” Trading revenue in the year to 31 March 2004 rose by a further £7.7 million to £101.6 million, reflecting strong growth in Ordnance Survey’s customer base.