JLT Eyes Further Growth In Asia, Latin America; Profit Rises
01 March 2012 - 7:28PM
Dow Jones News
Insurance broker Jardine Lloyd Thompson Group PLC (JLT.LN) said
Thursday it will use the platform provided by major shareholder
Jardine Matheson Holdings Ltd. (JAR.LN) to pursue further growth in
Asia and Latin America as it reported increased full-year pretax
profit.
"We already have a leading position in Asia and Latin America,
but the strength of the Jardine Matheson brand [in those regions]
will self-evidently be of benefit to us," Chief Executive Dominic
Burke told Dow Jones Newswires.
One of Asia's best-known companies, Jardine Matheson in December
bought a further 10% stake in JLT, taking its holding to 40%.
JLT, which also sells and administers employee-benefit packages,
reported pretax profit of GBP134.5 million for 2011, compared with
GBP119.4 million a year earlier, on revenue up 10% at GBP818.8
million. It declared a dividend of 24 pence for the year, up 7% on
2010.
The company posted revenue of GBP81.9 million in Asia and
GBP48.8 million in Latin America, increases of 28% and 19%
respectively.
-By Peter Evans, Dow Jones Newswires; 44-20-7842-9308;
peter.evans@dowjones.com
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