Jardine Lloyd Thompson Profit Rose Ahead of Marsh & McLennan Takeover
February 26 2019 - 3:31AM
Dow Jones News
By Adam Clark
Jardine Lloyd Thompson Group PLC (JLT.LN) said Tuesday that its
underlying profit rose strongly in 2018 ahead of its agreed
takeover by Marsh & McLennan Cos. (MMC).
The U.K. insurance brokerage and employee-benefits provider said
its underlying pretax profit came to 233.6 million pounds ($305.6
million), up 25% from 2017.
On a statutory basis, JLT's profit came to GBP88.1 million,
after taking a GBP145.4 million charge for exceptional items
including takeover costs and restructuring. Revenue rose 5% to
GBP1.45 billion. JLT said all its divisions delivered organic
revenue growth.
In September, JLT agreed to a $5.7 billion takeover by Marsh
& McLennan, forming a global insurance broker with $17 billion
in annual revenue. The deal is set to be completed early this
year.
Write to Adam Clark at adam.clark@dowjones.com;
@AdamDowJones
(END) Dow Jones Newswires
February 26, 2019 03:16 ET (08:16 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
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