UK Met Office pays dividend of £5.4 million
The UK Met Office has published their annual report titled: Annual Report and Accounts 2009/10. (71 pages, ISBN: 9780102966381, ID P002368729 07/10)
Page 3 of the report states:
“iPhone app. — our weather application for the iPhone has been a huge hit from its launch at the end of January, with more than 500,000 downloads by the end of March and excellent feedback from users.”
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Page 14 of the report states:
- Turnover was £192.0 million
- Commercial revenue was £29.4 million
- Total expenditure was £185.3 million
- Operating profit was £6.6 million
“Business profitability, a measure of profitability on revenue from services provided on a competed basis, amounted to £5.3 million in 2009-10, meeting the target of £5.3 million. A Return on Capital Employed (ROCE) of 3.2% was achieved against an in year target of 3.2% for 2009/10. The Met Office agreed a new Treasury Minute during the year to achieve a ROCE of 3.5% over the 5 year period to 31 March 2014.”
“Dividends
For the first time in six years the level of dividends payable to our Owner, the Ministry of Defence, reduced. Total dividends payable were £4.5 million in respect of 2009/10 (2008/9 £17.2 million).”
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Page 52 of the report states:
“4. Operating Segments
The Met Office has two reportable business segments: Government business and Commercial business. These are disclosed to enable the users of these financial statements to evaluate the nature and financial effects of the Met Office’s business activities. Both operating segments derive their revenue from the provision of weather and climate services. The Met Office derives over 80% of its revenue from public sector bodies. No operating segments have been aggregated to form the above reportable segments.
Each segment has a director who is responsible to the Chief Operating Decision Maker (CODM) for the operating activities, financial results, forecasts and plans of their respective segments. The Chief Operating Decision Maker is the Met Office Executive.
The Met Office’s management evaluates performance of the segments based on segment revenue and operating profit. Operating profit is further evaluated between that generated from activities falling within or outside the business profitability key performance target.”
- Government business was £162.165 million with a profit of £12.707 million
- Commercial business was £29.365 million with a profit of £1,343 million
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Page 53 of the report states:
“Government business
The Met Office provides a range of services to other public sector bodies including Government Departments and Agencies. These services are gained either on a competed or non-competed basis.
The majority of the Met Office’s non-competed services relate to the Met Office’s public task, its role as the UK’s National Meteorological Service and its support of the Ministry of Defence and other Government departments in respect of weather and climate related services. Where data or products are required for Met Office’s Commercial Services which are not part of the Met Office’s Public Task or the public task of other public bodies, they are supplied internally within the Met Office on the same terms and conditions as apply to external customers.
The operating profit derived from Government business is evaluated between activities that are considered to be competed or competable and those that are non competed. Those services gained on a competed basis are included within the business profit key performance target. The operating profit on non-competed services do not form part of the business profitability key performance target.
Government business is further analysed by revenue stream as follows:
- Defence £35.232 million
- Government Services £36.997 million
- Public weather service £89.936 million
Total £162.165 million”
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Page 54 of the report states:
“Commercial business
The Met Office also provides a range of weather and climate related services to a wide range of private sector customers. All Commercial business is secured on a competed basis, with revenue streams being derived from a number of different sectors including media, transport and consulting services to a number of other industries such as finance, engineering, construction, health and utility companies.”
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