MMC achieves improved Q2 and H1 profits

by Richard Kilner

Story link: MMC achieves improved Q2 and H1 profits

Marsh & McLennan Companies, Inc. (MMC) has reported its financial results for the second quarter of 2012.

In the three months ended 30 June 2012 the firm made net income of $329m, up from the $282m of the corresponding period last year but slightly down on the $347m MMC made in Q1 2012.

Quarterly consolidated revenue rose 3%, year-on-year, to $3bn and operating income increased 11% to $518m.

Income from continuing operations rose from $286m to $339m, with earnings per share rising from $0.50 to $0.60, year-on-year.

Biannual net income was recorded at $676m, a significant improvement on the $607m that the firm made in the first half of 2011.

President and Chief Executive Officer Brian Duperreault said that the firm’s quarterly results had successfully built upon those achieved in Q1.