BBC amasses £140 million surplus from licence fee The funds are expected to be used to pay for its coverage of the Queen's Diamond Jubilee and the Olympics. They represent the amount left over from licence fee income once the cost of producing and distributing its TV, radio and online content is taken into account. The figures cover the financial year to the end of March 2012. Internal figures, obtained by the Guardian, also suggest that the corporation's commercial side, including BBC Worldwide and BBC World News, is expected to deliver a £219 million operating profit. The reported surplus comes as 2,000 job cuts are planned at the BBC as part of a bid to save £800 million. Meanwhile, unions have balloted staff at the corporation for strike action over the management's offer of a 1% annual pay rise. Industrial action could threaten coverage of the Jubilee. A BBC spokesman, who would not comment on the surplus figures, said: "The BBC has to balance its books just like any other organisation. That said, if there is one year that we anticipate will be particularly expensive then it is prudent that we prepare for it. With the diamond jubilee and the Olympics we knew that 2012 would be such a year and have therefore delivered an underspend in the previous financial year so as to have a reserve to cover these extra costs.