The Shareholder Committee reviewed the performance of its trading company, Evolve Norse, in the 2023/24 financial year and considered its business plan for 2024/25. No decisions were made as this was a review meeting.

Evolve Norse

The committee received a report on the performance of Evolve Norse in the 2023/24 financial year. The report, Evolve Norse Business Plan 202425 and Company Performance for 202324 - Cabinet report, showed the company had a turnover of £24,116,000 against a budget of £25,360,000. The report noted this was in line with expectations given the economic climate. The company had a profit of £498,000 against a budgeted profit of £466,000.

The committee discussed the performance of the company in detail. They were particularly interested in the company's performance on key metrics such as customer satisfaction and employee engagement.

We're pleased to see that Evolve Norse has continued to perform well in a challenging economic climate. The company is providing good value for money for the council and residents, and we are committed to working with them to ensure that they continue to deliver high-quality services.

The committee also considered the company's business plan for 2024/25. The business plan outlined the company's plans to grow its business and improve its services. The committee were supportive of the business plan.