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Member, Beacon International Group, Ltd.
LONDONLondon-based brokerage Jardine Lloyd Thompson Group P.L.C. reported a pretax profit of £76.6 million ($154.9 million) for the first half of 2007, a 63.3% increase over the comparable period last year.
JLT said the profits had been boosted by an exceptional gain from the completion of the merger of its French associate SIACI with Assurances et Conseils Saint-Honoré, both Paris-based companies.
The brokerage said its fees and commissions for the first six months of 2007 were £244.7 million ($494.8 million), a 0.5% increase over the first half of 2006.
"After a positive first-half performance, we anticipate that the results in the second half will be impacted by the deteriorating market conditions and the weaker U.S. dollar," said Dominic Burke, chief executive of JLT, in a statement.
"However, we still expect JLT to show overall progress in its financial performance in 2007 compared to 2006," he added.