Hilb Rogal & Hobbs Company reported 2006 fourth-quarter net income rose 10 percent thanks to increased new business, acquisitions and reduction in expenses.
The Richmond, Va.-based insurance broker reported net income rose $1.9 million, from $19.5 million to $21.4 million. Earnings per share rose from 54 cents to 59 cents. Revenues in the quarter rose 7 percent, or $11.5 million, from $164 million to $175.5 million.
Net income for the year rose 55 percent, or $31 million, from $56 million to $87 million. Earnings per share rose from $1.55 to $2.39. Revenues rose 5 percent, or $37 million, from $674 million to $711 million.
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