SATRA has declared 2005 its most successful year yet with an overall annual income exceeding £8 million.
The announcement was made at SATRA's annual general meeting, which also detailed massive expansion plans for 2007.
Sales of products and services to members and clients increased by 10%, emphasising that SATRA is producing exactly what is required by its customers in 70 countries.
"It is pleasing that companies prefer to rely on the expertise of our highly trained technical staff and international authority of a SATRA authored report over independent test laboratories. Of particular note was a 23% increase in SATRA's work in furniture and floor coverings in 2005. This success reflects major internal improvements at SATRA to ensure that we produce fast response, competitively priced but highly authoritative test reports to members." said SATRA's Chief Executive Dr Ron Whittaker.
Record income and surplus
SATRA's record income of £8.3 million was 8% above the level reached in 2004. This achievement maintained the technology centre's remarkable record of almost 40 years, for continually increasing income year on year without running a deficit on the revenue account. Membership subscription income exceeded £2 million for the third consecutive year. SATRA now has more than 1,600 members in 70 countries.
Through the improved efficiency gained with SATRA's modern facilities at Wyndham Way, direct cost increases were kept at 3%, which allowed the technology centre to record a surplus on the revenue account of £500,000 - almost three times greater than in 2004. As a non-profit organisation, any surplus generated by SATRA is invested back into the business. This has enabled the technology centre to develop the most advanced furniture and floor coverings laboratories in the UK over the last eight years.
Laboratory expansion
With the expansion of business over the last 12 months, SATRA is now fully utilising its 26,000 sq. ft. extension built in 2004. A modern footwear fitting laboratory has been incorporated together with expansion of the safety product, furniture and floor coverings laboratories. Detailed plans have also been drawn up for a 20,000 sq. ft. fourth and final phase of development with the construction likely to take place in 2007. The new extension is to be totally funded from SATRA's own resources and no money will be borrowed for its development.
