Jardine Lloyd Thompson Group, plc, reported that a weak dollar, the elimination of contingency fees and the soft-market insurance cycle combined to drop first-half profit 22.5 percent over the same period last year.
The London-based insurance broker reported profit for the period dropped ?9.8 million ($17 million U.S.) to ?34 million ($59 million) for 2005 compared with ?43.5 million ($76 million U.S.) for the first six months of 2004.
The broker reported that fees and commissions increased 3 percent in the first half, or ?8 million ($13 million), going from ?243 million ($423 million) in 2004 to ?251 million ($436 million).
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