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Tough markets impact Lloyd's Register's operating profit

UK-based classification bureau Lloyd's Register improved its revenue but suffered a setback on its operating profit in 2015. Chairman Thomas Thune Andersen is pleased with the results in a challenging market.

Thomas Thune Andersen, chairman, Lloyd's Register | Photo: Foto, Lars Krabbe

Lloyd's Register, which among other things offers classification services to the maritime sector, can look back at a year characterized by numerous challenges as well as exchange rate headwinds.

The company's revenue in 2015 came to GBP 1.04 billion. With constant exchange rates, this represents a 4.1 percent growth from last year, but if one includes the strengthening pound in relation to other currencies, this growth comes to a mere 0.9 percent, reports Lloyd's Register in an annual review on Friday.

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