Willis Group reported growth in commissions and fees for the third quarter, but a net loss from continuing operations of $27 million, after reporting a loss stemming from paying off high cost debt and fees related to the accelerated payoff.
These results compare to reported earnings per diluted share of 15 cents in the third quarter of 2012. Foreign currency movements had no net impact on earnings per diluted share during the quarter.
Adjusted net income from continuing operations, which excludes the after-tax impact of the decision to accelerate the payment of $60 million in debt, was 19 cents a share. This compared to 22 cents in the same quarter of the prior year.
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