Marsh & Mclennan Companies (MMC) has reported an 18.30 percent rise in profit for the quarter ended Mar. 31, 2017. The company has earned $569 million, or $1.09 a share in the quarter, compared with $481 million, or $0.91 a share for the same period last year. On an adjusted basis, earnings per share were at $1.08 for the quarter compared with $0.92 in the same period last year.
Revenue during the quarter grew 5.01 percent to $3,503 million from $3,336 million in the previous year period.
Total expenses move up marginally Operating income for the quarter was $809 million, compared with $733 million in the previous year period.
However, the adjusted operating income for the quarter stood at $802 million compared to $736 million in the prior year period. At the same time, adjusted operating margin improved 83 basis points in the quarter to 22.89 percent from 22.06 percent in the last year period.
Dan Glaser, President and CEO, said: ""We are pleased with our performance in the first quarter. Marsh & McLennan Companies had underlying revenue growth across all of our operating companies, with growth of 5% in Risk & Insurance Services and 3% in Consulting. We delivered strong operating income growth with solid margin expansion." "With a strong start to the year, we believe the Company is well positioned to deliver underlying revenue growth, margin expansion in both operating segments and strong earnings per share growth in 2017," concluded Mr. Glaser.
Total assets stood at $18,969million as on Mar. 31, 2017. On the other hand, total liabilities were at $12,350 million as on Mar. 31, 2017.
Return on assets was at 3.35 percent in the quarter. At the same time, return on equity was at 8.60 percent in the quarter.
Total debt was at $5,891 million as on Mar. 31, 2017. Shareholders equity was at $6,619 million as on Mar. 31, 2017. As a result, debt to equity ratio was at 0.89 percent in the quarter.
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