Willis Holdings Company said it eliminated 400 positions and nearly doubled its net income in the third quarter 2006, helped by the sale of its London headquarters.
For the third quarter, Willis reported that net income rose 97 percent, or $44 million, to $89 million, or 56 cents a share, from $45 million, or 28 cents a share in 2005. Revenues were up 11 percent, or $56 million, from $487 million, to $543 million.
Without the sale of the headquarters and charges related to reorganization, the adjusted net income for the quarter would be $57 million, or 36 cents per share, Willis said.
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