Global engineering, technical and business services organisation, Lloyd’s Register (LR), has published its Group Review 2015 which celebrates its work to place research and development at the heart of LR.
Chairman Thomas Thune Andersen reports that, while not immune to current global challenges, LR’s strong performance has continued from last year with turnover totalling £1.04 billion. Currency headwinds affected our performance: using constant currency exchange rates, turnover grew by 4.1% but due to the strengthening of sterling against other currencies, at actual exchange rates turnover for the year was 0.9% higher.
Andersen says: “Our profits help to fund the Lloyd’s Register Foundation, enabling it to continue to make the best possible contribution to help tackle society’s challenges of the future. In 2014/15, our donations to the Lloyd’s Register Foundation were £11.5 million.”
Highlights of LR’s year 2014/15 include the opening of the new Group Technology Centre on the University of Southampton campus, the sale of its rail business to Ricardo plc, and concluding the acquisition of LR Senergy 15 months earlier than originally anticipated.
Success and succession
The review also marks the end of Richard Sadler’s time as LR’s CEO. In his last annual statement Sadler says: “It has been a great honour to serve as CEO of LR – it is a unique organisation… I am very proud to be succeeded by Alastair Marsh – and very proud of what we have achieved together.
“When I was appointed in 2007, I made a public commitment that I would serve as CEO for five years. After eight years in the role I believe it is now time to step down to pursue new challenges. It has been a great honour to serve as CEO of LR – it is a unique organisation with a great staff, history, purpose and a set of values of which I am immensely proud.”
And the review includes Alastair Marsh’s last report as Chief Financial Officer. Looking forward to his new role as CEO, Marsh says: “Thanks to Richard’s leadership over the past eight years, our business is in good shape, despite turbulent market conditions. It is vitally important that our business continues to evolve and I am delighted to have been given the opportunity to lead LR through what promises to be exciting and challenging times ahead”.
To download the review follow this link http://info.lr.org/GR2015 .
Lloyd’s Register Foundation Review 2015
The Lloyd’s Register Foundation has also published its annual review 2015 and the two reports illustrate the developing relationship between the two bodies, both guided by our mission to protect life and property through securing high technical standards of design, manufacture, construction, maintenance, operation and performance and to advance public education. For more details seewww.lrfoundation.org.uk/news/
LR’s Group Review 2015 can be downloaded at http://info.lr.org/GR2015
Lloyd’s Register (LR) is a global engineering, technical and business services organisation wholly owned by the Lloyd’s Register Foundation, a UK charity dedicated to research and education in science and engineering. Founded in 1760 as a marine classification society, LR now operates across many industry sectors, with some 9, 000 employees in 78 countries.
LR has a long-standing reputation for integrity, impartiality and technical excellence. Its compliance, risk and technical consultancy services give clients confidence that their assets and businesses are safe, sustainable and dependable. Through our global technology centres and research network, LR is at the forefront of understanding the application of new science and technology to future-proof our clients’ businesses.