Marsh & McLennan Cos. Reports Strong Second-Quarter Results
July 28 2016 - 1:12PM
Dow Jones News
By Brittney Laryea
Marsh & McLennan Cos. said its second-quarter profit rose,
helped by revenue gains abroad and in North America.
Marsh & McLennan--the professional-services firm that is the
parent of a number of companies, including the insurance-brokerage
Marsh and consulting firm Mercer--said it posted $1.54 billion in
revenue for its consulting business during the quarter, up 4% from
last year, and reflecting a 3% rise in revenue for Mercer to $1.08
billion.
The company's risk-and-insurance-services arm posted a revenue
increase of 6% to $1.85 billion. Marsh's revenue grew 6% in the
quarter to $1.56 billion, helped by revenue growth in international
operations.
Revenue in its Europe, Middle East and Africa segment jumped to
$479 million from $439 million, while U.S. and Canada revenue rose
to $804 million from $760 million.
For the quarter ended June 30, Marsh & McLennan posted
income of $472 million or 90 cents per share, up from last year's
$419 million, or 77 cents a share. On an adjusted basis, earnings
were 91 cents a share, up from 80 cents.
Revenue rose 5% to $3.38 billion.
Analysts polled by Thomson Reuters had expected 90 cents in
per-share earnings, on revenue of $3.37 billion.
Shares were recently down 0.4% at $66.22 in afternoon
trading.
Write to Brittney Laryea at brittney.laryea@wsj.com
(END) Dow Jones Newswires
July 28, 2016 12:57 ET (16:57 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
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