JLT Group plc Interim Results

26 July 2016

Jardine Lloyd Thompson Group plc (‘JLT’ or ‘the Group’) announces its interim results for the six months ended 30 June 2016.

In the period, the Group delivered a good underlying financial performance, reflecting the continued momentum of the business.

FINANCIAL HIGHLIGHTS

•     Revenue growth of 5% to £619.4m

•     Group organic revenue growth of 1%, or 4% excluding UK Employee Benefits

•     Reported profit before tax (PBT) down 46% to £55.2m, reflecting US investment* and exceptional costs

•     Underlying PBT £89.2m, down 7%

      -  Underlying PBT, excluding US investment*, £106.4m down 2%

•     Positive impact of foreign exchange movements

•     Underlying profit margin down 140bp to 15.9%

      -  Underlying profit margin, excluding US investment*, 19.2%, 330 bp higher

•     Reported diluted EPS of 15.1p

•     Interim cash dividend of 11.6p, up 4.5%

* Net investment in JLT USA in the six month period to 30 June 2016 was £17.2m (2015: £12.6m)

BUSINESS HIGHLIGHTS

•     Specialty businesses and JLT Re deliver organic revenue growth of 5% and 3% respectively

•     UK Employee Benefits restructuring on track

•     US Specialty business making significant progress, revenues doubled over corresponding period in 2015

Dominic Burke, Group Chief Executive, commented:

”During the first half of this year we have been encouraged by the level of client wins, which have been as strong as at any time since I became CEO. We are seeing significant financial benefit from collaboration between our Specialty operations around the world, which is helping sustain momentum and drive organic revenue growth across the business.  Economic and industry conditions remain challenging; nevertheless we remain confident about the Group’s ability to deliver year-on-year financial progress.”

ENQUIRIES:

Jardine Lloyd Thompson Group plc

Dominic Burke                      Group Chief Executive                   020 7528 4948

Charles Rozes                      Group Finance Director                  020 7528 4375

Paul Dransfield                     Head of Investor Relations             020 7528 4933        

Brunswick Group LLP

Tom Burns/Dania Saidam                                                         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. A live webcast of the presentation can be viewed on the Group’s website www.jlt.com.

Read the full interim statement here

contact Paul Dransfield
Head of Group Investor Relations