Preliminary Results for the year ended 31st December 2014 (unaudited)

03 March 2015

Jardine Lloyd Thompson Group plc ("JLT" or "the Group") announces its preliminary results for the year ended 31st December 2014.

Financial Highlights

  • Total revenue up 13% to £1,104.1m
  • Strong organic revenue growth of 6%
  • Underlying PBT up 3% to £183.0m
  • Reported PBT up 3% to £159.7m
  • Underlying diluted EPS up 3% to 56.1p
  • Reported diluted EPS up 3% to 47.8p
  • Underlying profit margin down 110 basis points to 17.8%
  • Increased total dividend of 28.9p up 6.3%

Operational and Strategic Highlights

  • Established Specialty insurance brokerage in USA
    • £5.2m net expenses in year as expected
    • Underlying Group PBT up 6% excluding these expenses
  • Ongoing investment to deliver sustainable long term earnings growth
    • 8 new acquisitions made for a total consideration of £63m, including Hayward Aviation for £27m
    • 950 new joiners take total employee numbers above 10,000
  • Continued successful integration of JLT Re and Towers Watson Re
  • Created one of the world’s leading Specialty businesses through the merger of JLT Specialty and Lloyd & Partners
  • Concluded Business Transformation Programme with higher than projected recurring savings of £16m for total one-off costs of £17m
  • Sale of French associate Siaci St Honoré in 2015 expected to generate cash receipt of approximately £82m

Dominic Burke, Chief Executive, commented:

"We are pleased to deliver another strong set of results, building on the progress and momentum of recent years. During the year we took a series of actions and strategic decisions, including the establishment of a Specialty insurance broking business in the US and the merger of JLT Specialty and Lloyd & Partners, that we believe will prove to be pivotal in terms of shaping our long term growth prospects. Despite a challenging insurance rating environment, we are confident in JLT’s revenue growth momentum and in our strategy of continuing to invest to deliver sustainable long term earnings growth."


Dominic Burke, Chief Executive Jardine Lloyd Thompson Group plc, Tel: 020 7528 4948

Mike Reynolds, Finance Director, Tel: 020 7528 4375

Paul Dransfield, Corporate Communications, Tel: 020 7528 4933

Tom Burns / Dania Saidam Brunswick Group LLP, Tel: 020 7404 5959

A presentation to investors and analysts will take place at 9.00am today at The St Botolph Building, 138 Houndsditch, London, EC3A 7AW. If you would like to register to view the presentation then click here.

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Forward-Looking Statements