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Jardine Lloyd Thompson first-half profits slump 9%

By BFN News | 10:26 AM | Thursday 26 July, 2018


Insurance provider Jardine Lloyd Thompson said Thursday first-half profits decline 9% as costs related to its transformation programme weighed on performance. For the six months to 30 June, reported pretax profit fell 9% to £89.4m while revenue grew 3% to £713.5m. Profit was weighed down by costs related to the company's 'Global Transformation Programme,' announced in February. Organic revenue grew 4% amid growth from all lines of business: 3% in specialty, 6% in reinsurance and 4% in employee benefits. The interim dividend was raised 4.1% to 12.7p. Despite the downbeat results the company said is expected to report 'continued strong organic revenue growth and further financial progress for the full year'. At 10:26am: (LON:JLP) Jubilee Platinum PLC share price was 0p at 2.33p Story provided by StockMarketWire.com

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