JLT reports £20m leap in profits
JLT has reported a healthy 2010 with profits after tax coming in at £90.7m, an increase of nearly £20m on last year.
Total revenue increased by 21% to £746.3m or 14% at constant rates of exchange (CRE). JLT attributed 7% of this to organic growth with the remainder coming from acquisitions.
The broker had a bumper year in commissions and fees bringing in over £740m but more than half of this was paid out in salaries and unspecified associated expenses. However over all the broker reported an operating profit of over £118m.
In retail, revenue increased by 23% to £270.9m, or 11% at CRE, comprising 10% organic
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