MMC revenue increases 4%

Professional services firm Marsh & McLennan Companies (MMC) has reported a net income of $481 million for the first quarter of 2016, a slight fall compared with net income of $482 million in the first quarter of 2015. Consolidated revenue for the first quarter of 2016 was up to $3.3 billion however, an increase of 4 percent on both a reported and underlying basis compared with the first quarter of 2015, reflecting growth across all operating companies.  Underlying growth was 2 percent in risk and insurance services and 6 percent in consulting.  Operating income for the quarter was $733 million, essentially flat compared with $735 million in the prior year.  Dan Glaser, president and chief executive officer, MMC, said: “We are off to a strong start to the year, and believe the company is well positioned to deliver underlying revenue growth, meaningful margin expansion in both operating segments and strong earnings per share growth in 2016.”