Willis Reports Almost In Line – Analyst Blog
Zacks Market Commentaries (February 5th, 2010) Writes:
Willis Group Holdings Limited (WSH) reported fourth quarter earnings of 47 cents per share. Results were just a cent short of the Zacks Consensus Estimate of 48 cents. Most of the items were in line with our expectations. However, results were up compared with the prior-year period’s earnings of 37 cents (or 36 cents on an adjusted basis), primarily reflecting the growth in organic business, the merger synergies from the Hilb Rogal & Hobbs Company acquisition and the benefits from the expense saving initiatives. Net earnings for the reported quarter from continuing operations increased to $79 million from $61 million in the year-earlier quarter. For full year 2009, the company reported net earnings of $436 million or $2.58 per share from continuing operations, compared with $302 million or $2.04 per share in 2008. For the reported quarter, revenues were up 4% year-over-year to $824 million.
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