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Trading statements

JLT makes good start in challenging conditions

27 April 2017 07:36

Jardine Lloyd Thompson Group said it had made a good start to the year although the challenging trading conditions of 2016 in many markets around the world had continued in 2017.

The group said that In Risk & Insurance, the momentum in Specialty seen in prior periods was maintained, with key client wins providing an offset to a challenging market environment.

It said that in the US, the integration of the Construction Risk Partners acquisition was on track, while overall US Specialty losses due to investment were anticipated to taper during the year, as previously indicated. JLT Re continued to maintain good revenue growth in the period.

JLT said its combined international employee benefits businesses continued to deliver good revenue growth.

Revenues in UK Employee Benefits grew over the period as expected and the full benefit of the 2016 restructuring programme would be realised in 2017.

A statement said: "The anticipation remains that this business will deliver organic revenue growth in the year and make steady progress towards delivering a 15% trading profit margin for 2018.

"The group remains well-funded and its financial position, including cash flow, continues to be strong. It is too early to determine the full-year impact of foreign exchange movements on the Group's results."

Looking ahead it said: "As indicated in our recent 2016 full-year results announcement, JLT entered 2017 with good momentum across all of its businesses and remains confident that organic revenue growth, more in line with historical rates, will be delivered, generating sustained year-on-year financial progress."

Story provided by StockMarketWire.com

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