BSI posts 2021 results

May 16, 2022

IIOA member BSI has reported its 2021 full year results with revenue increasing 9% to 585.6m GBP (13% at constant currency).

BSI notes, ‘growth in revenue demonstrates real momentum for the business – across every business division and every geography’.

Focussing specifically on Assurance Services, BSI reports, ‘Our Assurance Services division grew revenue by 8% in 2021, 12% on a constant currency basis, to £284.7m or 49% of Group revenue. This division is all about providing assurance that organizations and products meet the appropriate standards and can therefore be trusted throughout a supply chain, and by the consumer. The strong financial performance last year was underpinned by a robust performance in our Assessment and System Certification business line; the mission-critical nature of these services, together with our market-leading approach to remote delivery, supported by our digital platform BSI Connect Plus, were all key factors in our success last year. Remote delivery was also fundamental to the recovery of our Training business this year, with 70% of our courses being delivered virtually. After a very strong 2020 boosted by the requirement for Personal Protective Equipment (PPE), our Product Certification business line continued to grow, albeit at a more normal rate. Of note in 2021 was our focus on sustainability, which included our first Circular Economy Kitemark and the certification of next generation hydrogen home appliances.’

With particular emphasis on the continued growth of remote delivery, BSI reports that remote and hybrid audits accounted for 45% of the 2021 audit activity.

Overall for BSI, the importance of sustainability was noted, with BSI stating, ‘Sustainability is one of the major disruptors of our time and is a strategic priority for BSI’.

The full BSI report is available here.