Hub International Limited reported the insurance brokerage firm's net income increased 47 percent in the fourth quarter of 2005, and announced a major New England acquisition it said should help build brand recognition.
The Chicago-based Hub reported net income increased in the quarter by $1.8 million to $5.7 million, or 17 cents a share, compared with $3.9 million, or 12 cents a share, in the 2004 period. Revenues increased 12 percent, or $12.6 million, to $114.1 million from $101.5 million in 2004.
For the year, net income dropped 2 percent, or $526,000, from $26.2 million, or 80 cents a share in 2004, to $25.7 million, or 76 cents a share. Revenues grew 25 percent for the year, or $87.5 million, from $355.1 million to $443 million.
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