26 November 2015
We have now published our Group Review 2015 which celebrates our work to place research and development at the heart of LR. To download the review follow this link.
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.
“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,“ says Thomas.
Highlights of our year 2014/15 include the opening of our new Group Technology Centre on the University of Southampton campus, the sale of our 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 Richard 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, he 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”.
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 see www.lrfoundation.org.uk/news/2015/lrf-review-2015.aspx