formal dinner anytime soon. Next year’s AGM will be broadcast from our offices in June. And our big ship members have mooted a one-day conference to be held in central London. Watch for more details.


Bus ines s perf ormanc e


Despite a churn of staff, the Institute has performed satisfactorily, recording a modest profit for the year. Over recent years we have built up strong financial reserves to withstand poor trading years and the liquidity in the business remains solid.


The management board voted on a recommendation presented earlier in the year to close the Marine Surveying Academy Ltd (MSA) and agreed unanimously to back the plan. It made no sense to run two companies incurring two sets of accounting and auditing fees. The MSA products have been seamlessly transferred to IIMS and going forward it will be known as a division of the Institute to the outside wider world. MSA Ltd will live on as a non-trading company under my directorship and we will file a simple nil return annually. Having spent a decade establishing the brand, it was decided to keep it to ensure a competitor could not muscle in and acquire the trading name.


Streamlining some of the processes of the business has been an important activity this year, which has taken place quietly behind the scenes. Over the years, we have done a lot in integrating technology to make the business more efficient. The biggest bit of work we have done, for example, is to automate the annual renewals of the eCMID accreditation scheme and, so far so good.


The R eport Mag azine & Handy Guides


Editing the Report Magazine remains a privilege and one of the most enjoyable aspects of my role. This year we have covered a number of topical issues such as lithium-ion battery technology and the onslaught of AI technology. The content has been far reaching and I am grateful to those who have contributed.


There is never any shortage of material to publish in the magazine but getting the right editorial mix between industry news and comment, entwined with technical and opinion articles is a knack. I am most grateful when people take the time to tell me what a first-class publication it is and we as an Institute should be proud of it.


This year we have been averaging over 140 pages per edition and I am often asked how many copies are read. That is a tricky question and one I cannot answer accurately, particularly as the magazine is predominantly available electronically. But what I do know is that downloads we can track using our various reporting software suggest in excess of 10,000 copies each quarter are accessed.


I must once again single out Craig Williams, our in-house graphic designer. He does an amazing design job on each publication and our finished product is as good, if not better, than some of the publications you will find on the newsstands!


Our range of handy guides continues to sell well in both pdf and paperback formats. We have launched a couple of new publications this year and more are planned for 2025.


54 | ISSUE 110 | DEC 2024 | THE REPORT


2024


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