Retail growth of 19% and London Market growth of 11%
Jardine Lloyd Thompson has announced strong underlying results with insurance turnover and profits up but its pre-tax profit was down 3% after exceptional items.
- Profit before tax £92.8M down 3% from £95.2m
- Underlying profit before tax £95.2m up 15% from £82.5m
- Diluted Earnings Per Share 29.6p down 12% from 33.7p
- Underlying Diluted Earnings Per Share 30.4p up 17% from 26.0p
- Total dividend for the year the same at 20.5p
Underlying results exclude exceptional items and impairments.
- Turnover up 13% including organic growth of 6%
- Underlying trading profit up 23%
- Trading profit margin up 1% to 14%
- Risk & Insurance turnover up 15% to £448.5m with increased trading margin of 18%, of which retail up 19% to £233.5m and London Market up 11% to London Market £215.0m
- Risk and insurance profit up 26% to £79.8m
- Employee Benefits turnover up 8% with maintained trading margin of 17%
Dominic Burke, chief executive, said: “These results once again demonstrate JLT's excellent operational performance. The strong growth across all of our businesses underlines the progress we have made as a Group during the past three years.
“The Group enters 2009 in good shape and this is demonstrated by the results we have reported for 2008. The current economic outlook remains difficult, but assuming no material deterioration from here, we would expect JLT to make further progress in 2009.”