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Jardine Lloyd Thompson Group Plc Unaudited Interim Results For The Six Months To 30th June 2006
Financial Summary
€¢ Fees and commissions ("Turnover") £260.4m (2005: £250.7m)
€¢ Profit before tax £48.6m (2005: £48.1m)
€¢ Diluted earnings per share 14.8p (2005: 16.0p)
€¢ Underlying profit before tax (before exceptional items and impairment charges)
£47.1m (2005: £47.3m)*
€¢ Underlying diluted earnings per share 14.5p (2005: 15.8p)
€¢ Interim dividend per share unchanged at 8.5p
*refer to alternative income statement on page 11
Operational Summary
€¢ Revenue up 4% or 3% at constant rates of exchange
€¢ Good progress with the operational review
€¢ Risk & Insurance turnover increase of 5% with a reduced trading margin of 18%
€¢ UK Employee Benefits turnover increase of 9% with an increased trading margin of 16%
€¢ Strengthened management team
€¢ Proposed closure of UK Defined Benefit pension scheme
Dominic Burke, Chief Executive of Jardine Lloyd Thompson Group, commented:
"In light of the difficult trading conditions, we have delivered a creditable performance. Profits have been stabilised and we have made significant progress with our operational review. The review has served to highlight the quality of our people and the strength of our underlying business. Through this process, a roadmap is emerging that will help set the future direction of JLT. We anticipate that the benefits will be reflected in 2007 and more fully in 2008.
As stated at the time of the preliminary results for 2005, given the challenging trading environment, we do not anticipate any more than a modest overall improvement in the Group's trading performance for 2006 from that reported for 2005. We remain of that view."
Enquiries:
Barrie Cornes, Investor Relations Director Jardine Lloyd Thompson Group 020 7528 4560
Rupert Younger Finsbury Group 020 7251 3801
A presentation to investors and analysts will take place at 9.30am today at 6 Crutched Friars,
London EC3N 2PH. A webcast of the presentation can be viewed on the Group's website
www.jltgroup.com
later today.Full report can be found at: http://202.66.146.82/listco/sg/jm/press/p060801.pdf