JLT profits up 5%

by David Masters

Story link: JLT profits up 5%

JLT Group have reported their results for 2007 with total turnover of £473 million, an increase of 3%. Pre-tax profits were up 5%, at £95 million. These strong results came in spite of difficult market conditions and a weak dollar throughout the year.

The company’s operations in the UK and Europe saw an increase in turnover of 16% to £60 million. The London Market businesses turnover was down 2%, with turnover of £193.5 million. This was due to the difficult market conditions and the weak dollar.

The group’s trading margin for the year fell from 20% to 17%. The trading margin for the London Market businesses, however, increased from 12% to 14%.

JLT’s chief executive, Dominic Burke, said of the results: “I am very pleased to report a good set of results against a challenging backdrop.

“These results are a testimony to the hard work done over the past two years to reshape JLT and ensure that we have a good balance of earnings between the different businesses across the Group.

“We believe we now have the right strategy, structure and culture. We have great confidence in our ability to deliver profitable growth in 2008.”