Asian boost helps profits at Jardine Lloyd Thompson

PROFITS at insurer Jardine Lloyd Thompson (JLT) increased by 13 per cent to £147.6m during 2011, assisted by strong growth from its emerging market units. Overall group revenue was up 10 per cent at £818.8m.

Although European retail sales declined, the firm managed to increase revenue from its Asian division by 28 per cent to £81.9m while maintaining its trading margins.

Similarly, sales in Latin America were up by a fifth to £48.8m as other markets struggled. Performance in Southern European countries such as Italy was deemed “unsatisfactory”.

The specialist London Market Operations division grew by eight per cent and contributed revenues of £329.9m.

Chief executive Dominic Burke said: “Our emphasis on being a client-first organisation continues to serve us well.”

“Our strategy, built around growing our areas of specialty, strengthening our international footprint and driving efficiency, provides us with confidence that we will continue to make financial progress in 2012.”

Despite an increased dividend of 24p per share shares closed down 0.4 per cent at 699p.