The CIPR has returned to surplus in 2010 after a £700,000 shortfall in 2009.
Its annual financial statement, released today, quotes that a structural review, improved cost management and a focus on the more effective delivery of core member services has led to the turnaround.
CIPR CEO Jane Wilson said: ‘We are prioritising closer integration of the professional development products and services that the Institute provides for its members and focusing on managing costs in the coming year. Outlook for 2011 remains cautious due to significant economic constraints and cuts in private, public and voluntary sector organisations, all of which may have an impact on the PR profession.’
The CIPR made a surplus of £372,530 in the year to 31 December 2010 and met its financial budget for the year. This included an anticipated fall in revenue year on year of 4 per cent due to continued economic uncertainty and increased pressure on public relations spend. Despite economic challenges, revenue from membership subscriptions rose by 2 per cent when subscription fees were held at the previous year’s level.