Review of 2014/15

Innovation and technical excellence

In the Group Review 2015 we celebrate our work to place research and development at the heart of LR. Our technology leadership is more relevant than ever in today’s increasingly digital world. We are committed to taking the lead in making sure our clients get the most value out of their assets – with safety at the forefront.


Contents include

Chairman’s review: While not immune to current global challenges, Thomas Thune Andersen reports LR’s strong performance has continued from last year.

Chief Executive’s review: Richard Sadler reflects on LR’s progress in the year and during his time as CEO as he steps down after eight years in the role.

Financial performance: Revenue and profitability sustained despite global headwinds - turnover  £1.04 billion; 4.1% up on the prior year, adjusting for exchange rate movements.

Technology and innovation: Placing research and development at the heart of LR. For more details about the projects featured in the review follow this link.

Our year 2014/15: From gas-fuelled ferries to large-scale floating wind farms, we feature a selection of our news stories representing our year. For more details follow this link.

Marine: The strength of our performance was driven by our continued success in being awarded a high share of newbuildings and service to ships in class.

Energy: In a year dominated by the low oil price environment, we have supported our clients by delivering technical solutions that maximise operational efficiency, while never compromising on safety.

Management Systems (LRQA): The changing shape of LRQA. With structures and people now in place, we have emerged as a market-led and technically enabled business.

Public benefit: Safety has been at the heart of our work since 1760 and our newly stated values reaffirm our public benefit commitment.

Our employees: Aiming for world-class health and safety performance and the HR agenda to help employees make the best of their working lives.