Jardine Lloyd Thompson Group PLC Q1 Trading Statement 2017 (4681D)
April 27 2017 - 1:00AM
UK Regulatory
TIDMJLT
RNS Number : 4681D
Jardine Lloyd Thompson Group PLC
27 April 2017
27 April 2017
Jardine Lloyd Thompson Group plc
Q1 Trading Statement 2017
Jardine Lloyd Thompson Group plc ("JLT" or "the Group"), one of
the world's leading providers of insurance, reinsurance and
employee benefits related advice, brokerage and associated
services, today publishes its Q1 Trading Statement, which covers
the period from 1 January 2017 through 26 April 2017.
Trading Environment and Performance
JLT has made a good start to the year, although the challenging
trading conditions of 2016 in many markets around the world have
continued in 2017.
Risk and Insurance
In Risk & Insurance, the momentum in Specialty seen in prior
periods was maintained, with key client wins providing an offset to
a challenging market environment. In the US, the integration of the
Construction Risk Partners acquisition is on track, while overall
US Specialty losses due to investment are anticipated to taper
during the year, as previously indicated. JLT Re continued to
maintain good revenue growth in the period.
Employee Benefits
JLT's combined international EB businesses continued to deliver
good revenue growth. Revenues in UK Employee Benefits grew over the
period as expected and the full benefit of the 2016 restructuring
programme will be realised in 2017. The anticipation remains that
this business will deliver organic revenue growth in the year and
make steady progress towards delivering a 15% trading profit margin
for 2018.
Financial Position
The Group remains well-funded and its financial position,
including cash flow, continues to be strong. It is too early to
determine the full-year impact of foreign exchange movements on the
Group's results.
Outlook
As indicated in our recent 2016 full-year results announcement,
JLT entered 2017 with good momentum across all of its businesses
and remains confident that organic revenue growth, more in line
with historical rates, will be delivered, generating sustained
year-on-year financial progress.
- ENDS -
Enquiries:
Jardine Lloyd Thompson Group plc
Charlie Rozes, Group Finance Director (0)207-558-3929
Paul Dransfield, Investor Relations (0)207-528-4933
Brunswick Group
Tom Burns / Dania Saidam (0)207-404-5959
Forward-Looking Statements
This announcement may contain "forward-looking statements"
regarding the financial position, business strategy or plans for
future operations of the Group. By their nature, forward-looking
statements involve risk and uncertainty, relating to facts that are
beyond the company's ability to control, such as future market
conditions. Any such statements in this announcement speak only as
at the date of this announcement. The company does not assume any
obligation to, and does not intend to, revise or update these
forward looking statements except as required pursuant to
applicable law.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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