JLT Pre-Tax Profit Up 28 Percent

JLT Pre-Tax Profit Up 28 Percent

NU Online News Service, Feb. 24, 3:58 p.m. EST?London-based insurance broker Jardine Lloyd Thompson Group plc reported a 28 percent increase in pre-tax profit, based on the strong performance of its risk and insurance group, the company said.

Reporting its results for the year ending Dec. 31, 2002, the firm said pre-tax profit came to ?100.2 million ($158.3 million, at current exchange rates), a 28 percent increase over the ?78.3 million ($123.7 million) reported during 2001.

Turnover (revenues) increased 11 percent to ?388.1 million ($613.2 million), from ?349.7 million ($552.5 million) in 2001.

Earnings per share rose from 25.5 pence (40.3 cents) to 33.8 pence (53.4 cents) an increase of 16 percent the firm said.

"In 2002, JLT achieved the milestone of exceeding ?100 million of profit before tax for the first time in its history with continued double-digit growth in turnover, profit and dividend," Steve McGill, JLT chief executive, said in a statement.