Global professional services firm Marsh & McLennan Companies has reported a 2% decline in revenues for the year to 31 December 2001 to $9.9bn (£7bn), from £10.2bn (£7.2bn) in 2000.
The company was helped by a strong performance in its risk and insurance services division, which, excluding one-off items, raised operating income 21% to $1.1bn (£778m) for the year.
Operating income in its investment management division fell 22% to $833m (£589m). It was flat at $313m (£221m) in its consulting division.
Group operating income, including one-off items, fell 19% to $1.8bn (1.3bn) from $2.2bn (£1.6bn) while net income dropped 17.5% to $974m (£689m), from $1.2bn (£849m).
Earnings per share fell 17.3% to $3.39 from $4.10.
However, excluding one-off items, group operating income and group net income were virtually unchanged, while earnings per share increased 3% to $4.24 from $4.10 in 2000.
MMC is the parent company of Marsh, a risk and insurance services firm, Putnam Investments, one of the largest investment management companies in the US, and Mercer Consulting Group, a major global provider of consulting services.
It has approximately 58,000 employees who provide analysis, advice and transactional capabilities to clients in over 100 countries.
