Lloyd's Register Returns To Profitability

Lloyd’s Register Group announced full year results for the year ended June 30, 2001. Lloyd’s Register reports that operating profit for the 12 months at $35 million, with a record income up 11 percent at $519.2 million, which return it to profitability six months ahead of target. With the business restructured, Lloyd Register’s non-core activities were successfully exited.

David Moorhouse, Chairman of Lloyd’s Register, comments: “These results - and the activities that lie behind them - mark successful further steps in the Group’s aim to become the preferred global provider of risk management solutions, most notably in the transportation sector. “Our strength and reputation in the marine sector is well recognized and we will continue to ensure we remain at the forefront of ship classification, certification and inspection services. From this platform we are currently working to develop our services to other transport sectors, in the first instance rail. I am confident that this development strategy, based on the provision of independent risk management and safety expertise, will provide Lloyd’s Register with an environment for growth, a wider development opportunity for our employees and the basis for a successful future”.