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FCO Services

Volume 599: debated on Wednesday 16 September 2015

FCO Services operates as a trading fund of the FCO. I have set the following performance targets for 2015-2016:

1. An in-year surplus before interest, tax and dividend producing a net margin of between 1% and 5%;

2. A return on capital employed of at least 3.5% (weighted average);

3. Cost of corporate functions as a percentage of revenue of no more than 6%;

4. A utilisation rate for revenue-earning staff of at least 75%;

5. A customer satisfaction result of at least 80%;

6. Employee engagement in FCO Services using civil service survey of at least 59% FCO Services will report to Parliament on its success against these targets through its annual report for 2015-16.

[HCWS199]