Group gets 6% organic growth
JLT’s pre-tax profit dipped 3% to £92.8m in 2008, from £95.2m in 2007, but underlying profit rose 15% to £95.2m from £82.5m.
Turnover was up 13% to £536.1m from the £473.2m posted in 2007. The group said it had grown organically by 6%.
“JLT has been a growth story,” said Dominic Burke, the broker’s chief executive. “When you compare us to Aon and Marsh, they delivered 2% growth; we produced 6%. We have very few issues to focus on other than clients, which is why we delivered this.”
The group admitted it was not immune to currency movements, however. Its key currency exposure was in its London businesses, which earn dollar-denominated revenue of about $250m (£178m) a year. This represents 26% of group revenue.