Willis' net income for Q1 2011 drops by £103m

The global broker said the result was impacted by a $97m charge related to the 2011 operational review and $171m make-whole amounts related to the repurchase and redemption of senior notes and write-off of unamortized debt issuance costs.

Willis said adjusted net income per diluted share, which excludes the impact of the items mentioned above, was $1.28 in the first quarter of 2011 compared with $1.27 in the first quarter of 2010.

Total reported revenues for the first quarter of 2011 were $1