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Annual Results

JLT 'resilient in challenging conditions'

28 February 2017 07:28

Jardine Lloyd Thompson Group reports a good performance for the year to the end of December despite challenging trading and economic conditions.

The group said the weakness of sterling from June was a positive factor in its results; the estimated impact of £22.2m at underlying profit before tax level provided a helpful offset to the challenging trading environment.

The group reports revenue growth of 9% to £1,261.3m with organic revenue growth of 2%.

Underlying profit before tax rose to £172.6m, up 1%, reflecting US Specialty investment as planned.

Underlying profit before tax, excluding the US investment, was up 5% to £199.6m.

Reported profit before tax fell 13% to £134.9m and underlying profit margin was down 80 bps to 15.4%.

Underlying profit margin, excluding the US investment, was down by 30 bps to 18.1%.

The final cash dividend of 20.6p takes the total dividend for 2016 to 32.2p, up 5%.

Group chief executive Dominic Burke said: "JLT has delivered a good set of financial results in 2016, particularly when set against the continued, challenging trading environment.

"The Group entered 2017 in good shape, with momentum and confidence that JLT is well-positioned to deliver organic revenue growth more in line with historical rates.

"I am proud of the achievements and progress we made in 2016 across all of our businesses.

"The resilience we showed last year positions us very well for further growth."

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