BBC Ventures, the proposed holding company for the corporation's commercial business-to-business activities headed by Roger Flynn, almost halved its losses at£5.4m in the 2001/2 financial year, writes Barbara Marshall
BBC Ventures, the proposed holding company for the corporation's commercial business-to-business activities, almost halved its losses at £5.4m in the 2001/2 financial year, writes Barbara Marshall

The £5.4m trading loss compares with a figure of £9m in the previous year but is calculated after allowing for a £24m contribution to the BBC, made up of £12.6m cost savings and £11.4m cash.

BBC Resources' narrowed operating loss of £6.3m, compared with last year's figure of £12.8m, was largely due to the £4m loss incurred by the now restructured design division BBC MediaArc. However, BBC Resources returned £8m to the BBC and the TV studios division achieved a profit for the first time ever.

During the year, BBC Resources headcount fell to 1,605 as just over 1,000 staff were transferred back into BBC Nations and Regions.

BBC Technology is also thought to have made a loss in its first year of trading although the BBC annual report does not spell this out. It began trading as a subisidary on 31 March last year and has contributed £16m to the BBC.

Both divisions are projected to make a profit in the current (2002-03) financial year.

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