Group Review 2014 highlights positive year for LR

London, 14 January 2015

Annual review page image

Our Group Review 2014 has now been published. Highlights of our year 2013/14 include achieving the top ranking in the quality list of the Paris MoU (Memorandum of Understanding), reflecting our drive to continually help improve safety and operational performance in shipping, and our largest ever investment in energy services company Senergy to expand our range of technical assurance and consulting services to the oil and gas sector. LR has also continued to reduce its total recordable injury incident rate, down to 0.39 per 200,000 worked hours, a 23.5% reduction on last year’s figure. In the last three years, the number of lost time events has been reduced by 95%.

CEO, Richard Sadler, says: “I am proud to say that LR, at 254 years old, is still at the leading edge of technology and the review celebrates our technical excellence. The cover shows two of our Marine specialists outside our new Southampton Global Technology Centre (GTC), the cornerstone of our marine research and technology network. Our GTCs in Southampton and Singapore are creating centres of excellence for technology, innovation and research that will benefit our clients, the local economies, industry and society at large.”

In the Group Review 2014, we report a very positive performance over the 2013/14 financial year, exceeding £1 billion in turnover for the first time (turnover was 11.8% higher at £1.03 billion, which includes the Senergy group from September 2013).

Richard concludes: “LR is unique in terms of the range of skills and expertise that we can offer our clients, and we strongly believe that by leveraging this, we will continue to grow and to maximise our contribution to the Lloyd’s Register Foundation.”

The Lloyd’s Register Foundation has also published its annual review 2014 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