By Debbie Cai
Marsh & McLennan Cos.' (MMC) first-quarter earnings rose
19%, led by its risk-and-insurance division, as the
professional-services company also recorded wider margins.
Its 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 $413 million, or 74
cents a share, up from $347 million, or 63 cents a share, a year
earlier. Excluding restructuring-related charges and other items,
adjusted earnings improved to 73 cents from 63 cents a share.
Revenue climbed 2.5% to $3.13 billion.
Analysts polled by Thomson Reuters most recently projected
earnings of 69 cents a share on revenue of $3.18 billion.
Operating margin widened to 19.4% from 17.3%.
Revenue at the risk-and-insurance division, the company's
largest segment, rose 4.9% to $1.77 billion, while operating income
jumped 14% to $468 million. Revenue in the smaller consulting
segment slipped 0.7% to $1.36 billion, while operating income
increased 14% to $187 million.
Shares closed at $37.83 and were inactive premarket. The stock
is up 11% over the past 12 months.
Write to Debbie Cai at debbie.cai@dowjones.com.
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