Jardine Lloyd Thompson share price plummeted after the broker reported a fall of more than £10m in profits in 2005.
Pre-tax profit fell to £73.8m for the year to December from £85m in 2004. This came despite a 3% increase in turnover to £484.4m.
At close of trading on 7 March, JLT's share price slumped to 375p - a fall of over 15% on its opening price.
The embattled broker also warned that it could not see any more than a modest improvement in performance in the current year.
Dominic Burke, JLT's newly appointed chief executive officer, admitted the results were "clearly unsatisfactory".
As part of the broker's ongoing operational review, JLT has announced the merger of its Risk Solutions and Corporate Risk businesses.
Burke said "all options need to be looked at", including the location of JLT's UK offices and staff numbers. But Burke denied that the recently announced pay freeze for employees affected by the merger was an issue.
Chairman Ken Carter said 2005 had been the "challenging" year that the company had predicted. He added: "At this early stage we do not anticipate any more than a modest overall improvement."
