Results improve at Jardine Lloyd Thompson as boss hails US unit

 
Caitlin Morrison
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The St Botolph building in the City has served as headquarters for JLT since 2012
BRITISH insurance group Jardine Lloyd Thompson (JLT) said yesterday that it is confident in the firm’s revenue momentum after reporting a 13 per cent increase in revenue during 2014, up to £1.1bn.

The company also posted an improved profit before tax, rising from £154m to £160m, and increased its dividend by 6.3 per cent to 28.9p.

During 2014 JLT established a speciality insurance broking business in the US, and chief executive Dominic Burke believed the move “will prove to be pivotal in terms of shaping our long term growth prospects”.

Analysts at Numis agreed that early signs from the US operation were encouraging, and said “profitability in other parts of the business continues to grow at attractive rates, driven by JLT’s proven growth strategy and management team”.

Burke also said: “Despite a challenging insurance rating environment, we are confident in JLT’s revenue growth momentum.”