JLT’s FY2016 results were, yet again, a bit of a mixed bag but there were some positives: UK Employee Benefits performed better in H2 than expected, suggesting the turnaround is complete; organic growth in JLT Specialty/Re and International EB was encouraging; investment in US Specialty has peaked. The tone was more moderate and hence more convincing. Against this, we again cut our PBT (Norm) forecasts (-6% for FY17/18). We are on the home run - but we are still a few miles away. We mov
07 Mar 2017
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Are we (nearly) there yet?
Jardine Lloyd Thompson Group (JLT:LON) | 0 0 0.6% | Mkt Cap: 2,861m
- Published:
07 Mar 2017 -
Author:
Joanna Parsons -
Pages:
6
JLT’s FY2016 results were, yet again, a bit of a mixed bag but there were some positives: UK Employee Benefits performed better in H2 than expected, suggesting the turnaround is complete; organic growth in JLT Specialty/Re and International EB was encouraging; investment in US Specialty has peaked. The tone was more moderate and hence more convincing. Against this, we again cut our PBT (Norm) forecasts (-6% for FY17/18). We are on the home run - but we are still a few miles away. We mov