Profits fall 46% for JLT
However revenue grows to £619.4m and profit drop is blamed on investment and exceptional costs.
JLT Group has reported increased revenue of £619.4m, a 5% uptick, for the first six months of 2016 according to its interim statement.
However profit before tax fell 46% to £55.2m which the broker said reflected US investment and exceptional costs. In April it predicted a £34m hit as a result of its £22m settlement with Willis following a court case over staff poaching.
Despite this the Group said it achieved organic growth of 1%, or 4% if its UK Employee Benefits business is excluded.
The
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