Aon 4Q net income rises on more revenue, savings
Aon 4th-quarter net income rises 10 percent on greater revenue and savings from restructuring
NEW YORK (AP) -- Insurance brokerage Aon PLC said Friday that its net income rose 10 percent in the fourth quarter as its revenue grew and savings from its restructuring increased.
Aon said revenue from both its risk solutions and human-resources solutions businesses increased. The company said the restructuring of its Aon Hewitt human resources consulting business saved it about $67 million during the fourth quarter, up from $43 million a year ago.
Aon said its net income rose to $305 million, or 93 cents per share, from $277 million, or 82 cents per share. Excluding one-time items the company said it earned $1.27 per share. Revenue increased 4 percent, to $3.12 billion from $2.99 billion.
Analysts were forecasting net income of $1.26 per share and $3.08 billion in revenue, according to FactSet.
The London-based company said revenue from its risk solutions division rose 2 percent to $2.05 billion and HR solutions revenue rose 7 percent to $1.08 billion.
In 2012, Aon's net income edged up 1 percent, to $993 million, or $2.99 per share, from $979 million, or $2.87 per share. Revenue rose 2 percent, to $11.51 billion from $11.29 billion.
Shares of Aon lost 75 cents to $56.99 in morning trading.
