Report of:  ODS Group Board

Purpose of report: To provide the SHJV with a summary of 2023/24 trading year to date; to propose a dividend for the trading period 2022/2023; to present two new business plans for ODSL and ODSTL for approval, underpinned by 2024/25 ODS budgets.

Recommendation(s): That the Shareholder and Joint Venture Group resolves:

1.    To note confirmation of the forecast full year trading position for both companies (as at period 10) with a group net profit after tax working assumption of £2.7m.

2.    To declare a dividend of £1.4m for the financial year 2022/23 from ODSL.

3.    To note a summary of the ODS Group budgets for 2024/25 (which support the new business plans).

4.    To approve, the refreshed ODSL Business Plan (as attached at Appendix 1).

5.    To approve the refreshed ODSTL Business Plan (as attached at Appendix 2).

The Shareholder and Joint Venture Group received a report which provided a summary of the 2023/24 trading year to date, proposed a dividend for the trading period 2022/23, presented two new business plans for ODSL and ODSTL for approval which were underpinned by the 2024/25 ODS budgets.

The SJVG discussed the report in private session and members of the Companies Scrutiny Panel contributed questions and comments.

The Shareholder and Joint Venture Group resolved to:

1.    To note confirmation of the forecast full year trading position for both companies (as at period 10) with a group net profit after tax working assumption of £2.7m.

2.    To declare a dividend of £1.4m for the financial year 2022/23 from ODSL.

3.    To note a summary of the ODS Group budgets for 2024/25 (which support the new business plans).

4.    To approve, the refreshed ODSL Business Plan (as attached at Appendix 1).

5.    To approve the refreshed ODSTL Business Plan (as attached at Appendix 2).