00:00Can you each tell me how much money you've paid back to the Home Office in profit share each year for the last few years, please?
00:09So, total probably since the beginning of the contract is easier for me, if that's okay, which is £32 million for us.
00:16It's gone through a review process with the Home Office. They have to audit it and make sure that it's correct.
00:21So we're waiting for them to conclude that and then £32 million is ready to go.
00:26When was the last year that payment covered?
00:30So that would be £23, £24. I don't think the £24, £25 one is in yet.
00:37Mr Bird?
00:38We haven't paid any money back, actually parted with any cashes yet.
00:43No, because our requirement is the contract, the profit sharing mechanism is a cumulative, so it builds up over the course of the contract.
00:55As I said, we've got £13.8 million, which is due to go back, subject to Home Office audit.
01:02It's by your recognition in your opening, the open answers to the opening questions, that you have exceeded the contract profit margin, and that your expectation is that you should pay the Home Office some funding back.
01:15You haven't paid a pound back to the Home Office yet, is that correct?
01:18The mechanism for paying back is driven by Home Office, so we declare our numbers, Home Office then check those numbers, and then recover the monies.
01:31Apologies, no, so we are in the same position.
01:33So you haven't paid a pound back to the Home Office yet?
01:36The money's all there ready to go, it's been audited, we are waiting for the Home Office.
01:40How about yourself?
01:42So we are not yet in scope for profit share, our profits...
01:45You haven't made enough profit yet?
01:47We haven't come in scope, no, we've not yet made sufficient profit for that to be an issue for us.
01:52And how much profit have you made up until this point on the contract?
01:56So working on the 7% NAO figure...
02:02Well, how much is on your figure?
02:04You must know how much, as a company, you must know how much profit you've made off this contract.
02:07We're currently being audited, so I would much rather rely on the NAO figure, but...
02:15It's astonishing, isn't it astonishing, you'd rather rely on the National Audit Office to tell you how much your company has made in profit,
02:23rather than tell me what your estimate of profit is on this contract?
02:27If £5.5 billion is the 10-year figure as assessed lightly by the National Audit Office, the round figure would be £385 million.
02:37So do you agree with the National Audit Office figures, or are you just relying upon them?
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