MMC reports rising Q4 and annual profits
Marsh & McLennan Companies, Inc. (MMC) has reported its financial results for the fourth quarter and full-year 2010.
In Q4, consolidated revenue rose 9% to $2.8bn (year-on-year) and increased by $0.3bn from the Q3 2010 result.
Quarterly net income was recorded at $203m (equating to $0.37 per share), an improvement from the Q4 2009 net income of $23m ($0.04 per share) and Q3 2010 $168m ($0.30 per share).
Annually, net income skyrocketed from $227m last year to $855m, with earnings per share rising to $1.55 from $0.42.
President and Chief Executive Officer Brian Duperreault expressed the firm’s pleasure at its performance, with revenue and operating income increasing during every quarter of the year.
Duperreault went on to say that the 2010 results gave MMC a strong foundation upon which to build and stated that the firm was well-positioned for the future.
Category: Financials, Insurance News
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