The Minister of State, Department for Business, Innovation and Skills (Michael Fallon)
I am today announcing that performance targets have been agreed for Ordnance Survey for the period 2013-14. Ordnance Survey will report externally against these targets as is required of all Executive agencies in Government.
The targets are:
To achieve an operating profit before exceptional items, interest and dividends of £32.4 million for the financial year 1 April 2013 to 31 March 2014.
To achieve a free cash flow before exceptional items of £21.4 million for the financial year 1 April 2013 to 31 March 2014. Some 99.6% of significant real-world features greater than six months old are represented in the database.
To continue to reduce the underlying cost base of the core business by 5% per annum measured against a baseline of 2008-09 adjusted running costs.
To achieve a customer index score of at least 80%.
To achieve an innovation index score of at least 80.
These targets reflect Ordnance Survey’s continuing commitment to customers, to continuing sustained achievement against the business strategy that has been in place and developed over previous years, to maintaining and delivering intelligent geographic information to all users, and to offering improved value for money for all, as well as a commitment to Government policies.