Despite a leap in revenue to nearly £200m, Ordnance Survey has reported a dip in profits during its most recent financial year.
The historic firm, headquartered in Southampton and tracing its origins back to the reign of George III, recorded a pre-tax profit of £17.6m for the 12 months ending 31 March, 2025, a decrease from the previous year's £22m, as reported by .
However, newly released accounts reveal that Ordnance Survey's revenue soared from £186.8m to £194.5m.
This latest figure marks the eighth consecutive year the company has set a new record for revenue.
Paper maps sales on the slide
These results precede an appearance by Ordnance Survey's CEO, Nick Bolton, on an upcoming episode of City AM's Boardroom Uncovered interview series in September.
In the episode, Bolton discusses how the company is competing with tech giants like Google and Apple, as well as the unique challenges of leading a government-owned business.
Revenue generated from direct licences saw an increase over the year, rising from £128.4m to £131.9m, while partner licence sales grew from £34.6m to £37.9m.
Income from Ordnance Survey maps also increased, going from £9.5m to £11.6m, but paper map revenue fell from £7.9m to £7.4m.
In a statement accompanying the accounts, the company attributed its revenue growth to increasing demand for its data, particularly within the financial services sector.
The company highlighted that the financial services sector is "increasingly relying: on geospatial data which provides information on floodplains, building footprints, building material, number of floors, roof types and proximity to critical infrastructure among others.
Ordnance Survey overcomes 'challenging economic backdrop'
Nick Bolton, Chief of Ordnance Survey, stated: "OS is an organisation with over 230 years of history, and we continue to innovate to meet the evolving needs of the nation.
"Over the past year, we've focused on enhancing and connecting datasets to unlock deeper insights, supporting everything from housing growth to strengthening environmental resilience."
"This work is helping to build stronger communities and drive economic opportunity across both public and private sectors."
"Despite a challenging economic backdrop, OS has delivered growth, reflecting the increasing demand for trusted location data."
"Today, our data is estimated to be used 42 times a day by every º£½ÇÊÓƵ adult, underpinning critical services from emergency response to infrastructure planning and financial risk assessment."
"We are now in a strong position to deliver even greater geospatial insight and completely fulfil our role as the National Mapping Authority."
