CIPR reveals it is set to make a loss of £700,000 in 2009

CIPR reveals £700,000 black hole in finances for 2009

Gemma O'Reilly, prweek.com, 03 November 2009, 1:51pm

The CIPR has revealed that it is expecting to make a loss of £700,000 this year.

CIPR president: Kevin Taylor

More than £500,000 of the debt is due to one-off property costs relating to the CIPR's move from its St James's Square offices earlier this year.

The move was forced when the landlord applied for planning permission to redevelop the property as his private house. The CIPR was then served notice to quit.

The remainder of the loss is the result of a downturn in trading income in the last quarter because of the recession.

The executive board met last week and agreed a programme of immediate cost savings, along with a three-year strategy that focuses on the needs of the CIPR membership and the profession.

‘Our cash flow position remains positive, and we are committed to turn round the finances in the next year,' said CIPR President Kevin Taylor.

‘We believe our new base at Russell Square, with its improved training, conference and office facilities, will help in that turnaround. Services to our members will remain our priority.'

All Comments

Tim Reed - 04 November 2009

The CIPR has proved that is a wholly irrelevant trade body offering 'stating the bleeding obvious' courses in how to talk to journalists, how to write long, tiresome, pointless press releases. Lots of chest beating at awards ceremonies.

Sarah Taylor MCIPR - 04 November 2009

@ Tim Reed

it isn't irrelevant to me. I found the CIPR invaluable when I first set up as a freelancer. Agreed, some of the courses are aimed at fairly inexperienced PRs but we all had to start somewhere.

Stu Campbell - 11 November 2009

Just a thought..... perhaps the CIPR & also the PRCA could support the UK PR industry to a greater level by offering more attractive fees to start-ups \(?) This would help to drive revenues into both through membership subs & would also ensure that the 'fresh' new talent in the industry is onboard. I've found both to be highly expensive & 'non-negotiable' on pricing. As such, I would now think twice about spending with either. There's plenty of good trainers, sources of advice & independent initiatives out there.