The BPIF has recruited 162 new members since its tiered membership scheme kicked off on 1 April.


Average subs fees have been reduced by 20% by the scheme, which offers three levels of membership, the BPIF said.


The new subscribers put the BPIF on course for its goal of 500 new members, for a total of around 3,000, in the year to April 2002.


Its annual report to April 2001, which covers the last year of its old "one size fits all" subscription package, revealed that membership had dropped by 7%.


"Income from subscriptions fell by 239,000, which reinforced the need to change the subscriptions," said director of finance and administration Mark Cooke.


The report was launched at the BPIF AGM yesterday (26 June). Headline figures show deficit from recurring activities down to 190,000 from 325,000.


Overall surplus was just over 3m and this was mainly due to the sale of its old Bedford Row premises, which raised 3.7m.


As a self-liquidating organisation the federation would ordinarily aim to break even.


Cost savings of 500,000 were recorded, and staff numbers were reduced by 20%. Acting chief executive Roy Hill described the new-look organisation as "lean and mean".


The three-year plan is to up subscription income by 600,000, up "other" income by 500,000, and find a further 400,000 of cost savings. "These are realistic but challenging targets," said Cooke.


* Last week the BPIF named Michael Johnson as its new chief executive. The former Sports Industries Federation chief joins on 11 September. Hill has been acting chief since last Julys departure of Tom Machin (PrintWeek, 20 July).


Story by Lauretta Roberts