JLT is building out its US Speciality operation against a difficult trading backdrop, leaving it with limited ‘wiggle room’ as its investment keeps hitting PBT Norm. Dropping the ball in its UK Employee Benefits in 2015 didn’t help but we take comfort that the latter now looks to be trading in-line with revised expectations. We cut FY2016 PBT Norm by 3% to £178.2m on the Q3 IMS, but note that it’s not all doom and gloom. JLT is still winning Speciality clients an
08 Nov 2016
Q3 update is once again mixed
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Q3 update is once again mixed
Jardine Lloyd Thompson Group (JLT:LON) | 0 0 0.6% | Mkt Cap: 2,861m
- Published:
08 Nov 2016 -
Author:
Joanna Parsons -
Pages:
3
JLT is building out its US Speciality operation against a difficult trading backdrop, leaving it with limited ‘wiggle room’ as its investment keeps hitting PBT Norm. Dropping the ball in its UK Employee Benefits in 2015 didn’t help but we take comfort that the latter now looks to be trading in-line with revised expectations. We cut FY2016 PBT Norm by 3% to £178.2m on the Q3 IMS, but note that it’s not all doom and gloom. JLT is still winning Speciality clients an