Marsh & McLennan Companies Inc. reported third-quarter netincome of $221 million despite declining revenues in most segments,with its CEO citing the work of top executives to generate newbusiness in a tough economy while tightening expense controls.
The third-quarter profit, coming out to 41 cents per share,represents a stark turnaround from a net loss for the same periodlast year of $8 million, or 2 cents per share.
The third-quarter profit was posted despite an 11 percent dropin revenues, which fell $296 million to $2.5 billion.
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