JLT rules out large deal as profits rise

By Jamie Dunkley, City Reporter (Insurance) Published: 6:10PM GMT 02 March 2010

Jardine Lloyd Thompson Group

The company, that competes for marketplace share with incomparable US-rivals such as Aon and Marsh, saw pre-tax distinction climb to �102m over the year to Dec 31, up from �92.8m the year before.

The outcome was driven by a 14pc climb in income from fees and commission to �613m. These come from the companies it provides word and pensions services.

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The association will compensate a last division of 12.5p on May 4, receiving the sum division to 21p, up from 20.5p. Dominic Burke, arch executive, pronounced that the association would right away see to grow the Asian and Latin American operations, that minister 10pc towards the group"s sum revenue.

He combined that JLT would try bolt-on acquisitions over the subsequent year, but would equivocate incomparable deals in the core markets such as the UK.

Last year, the association sealed a array of deals to grow the worker benefits advisory, together with the takeover of HSBC Actuaries and Consultants for �27.25m.

Barrie Cornes, researcher at Panmure, pronounced the full-year formula had kick expectations. He combined that the stroke of the mercantile slack had not strike the association as primarily feared. JLT shares sealed down 2.5 at 500p.