1. News Articles
  2. Related News Articles
News Article Details

Marsh & McLennan 4Q Profit Up 1.1% Amid Broad Revenue Growth

Source: Dow Jones

Posted on 13 Feb 2013 by Neilson

Facebook LinkedIn Twitter Google

MarshMarsh & McLennan Cos.' (MMC) fourth-quarter earnings rose 1.1% as the insurance brokerage reported revenue growth in its risk and insurance business as well as its consulting operations.

The company's insurance and consulting businesses have been a continued source of strength for Marsh & McLennan, as have a series of acquisitions that have given a boost to the company's revenue.

Marsh & McLennan reported a profit of $259 million, or 47 cents a share, up from $256 million, or 46 cents a share, a year earlier. Excluding restructuring-related charges and other items, adjusted earnings were 52 cents. Revenue increased 3.2% to $3 billion.

Analysts polled by Thomson Reuters most recently projected earnings of 52 cents on revenue of $3.01 billion.

Operating margin was unchanged at roughly 13.5%.

Revenue at the risk and insurance division, the company's largest segment, increased 3% to $1.6 billion, while operating income grew 6% to $322 million. Revenue in the smaller consulting segment increased 3% to $1.4 billion, while operating income fell 13% to $128 million.