JLT Group interim results 2017 released

27 July 2017

Jardine Lloyd Thompson Group plc (JLT or the ‘Group’) announces its interim results for the six months ended 30 June 2017.

FINANCIAL HIGHLIGHTS

Total revenue growth of 11% to £689.9m

  • Organic revenue growth of 3%, reflecting strong retention and new client wins
  • 3% in Specialty businesses
  • 2% in JLT Re
  • 9% in UK Employee Benefits
  • Positive impact of foreign exchange movements, helping offset continued rating weakness
  • Underlying* profit before tax (PBT) of £100.1m, up 12%
  • Underlying PBT, excluding the US investment**, up £7.1m to £113.5m
  • Reported PBT up 80% to £99.2m, driven by reduced exceptional charges
  • Underlying trading margin maintained at 15.9%
  • Underlying trading margin, excluding the US investment, at 18.9%
  • Reported diluted earnings per share (EPS) up 104% from 15.6p to 31.8p
  • Underlying diluted EPS up 12% from 28.4p to 31.9p
  • Interim cash dividend of 12.2p, up 5.2%

* Underlying results exclude exceptional items of £0.9m

** Net investment in US Specialty in the six month period to 30 June 2017 was £13.4m (2016: £17.2m)

BUSINESS HIGHLIGHTS

  • Further progress made with the US Specialty build-out, as revenues more than doubled, driven by strong organic growth and the contribution from Construction Risk Partners, acquired in January 2017
  • UK EB business now trading strongly following the restructure in 2016

Dominic Burke, Group Chief Executive, commented:

“JLT delivered a good financial performance in the first half of 2017.  We have entered the second half with many of our businesses showing increasing momentum and we remain confident that we will deliver full year organic revenue growth more in line with historical rates, generating sustained year-on-year financial progress.”

Download the full interim statement here.

ENQUIRIES:

Jardine Lloyd Thompson Group plc

Dominic Burke

Group Chief Executive

+44 (0) 20 7528 4948

Charles Rozes

Group Finance Director

+44 (0) 
20 7528 4375

Paul Dransfield

Head of Investor Relations

+44 (0) 
20 7528 4933

Brunswick Group LLP

 

Tom Burns/ Dania Saidam

 

+44 (0) 
20 7404 5959