Employee benefits firm Jardine Lloyd Thompson has issued a positive report for its businesses despite challenging conditions.
In a trading statement for the first quarter of 2017, the company said it expects to deliver organic revenue growth and make steady progress towards a 15 per cent trading profit margin in 2018.
The statement said: “As indicated in our recent 2016 full-year results announcement, JLT entered 2017 with good momentum across all of its businesses and remains confident that organic revenue growth, more in line with historical rates, will be delivered, generating sustained year-on-year financial progress.”
JLT added that it remains well-funded and its financial position is strong, saying it is too early to tell the full impact of foreign exchange movements on its results.
In February the company reported increased revenues by 9 per cent to £1.3bn, due in part to a weak sterling resulting in a favourable foreign exchange.
Underlying profit before tax remained nearly flat at £172.6m, reflecting the cost of the JLT’s investment in its US business.
damian.fantato@ft.com
