Aon Corp said fourth-quarter earnings rose before special items, beating expectations, as savings from restructuring improved margins and currency gains boosted revenue.
- Total revenue increased 9% to $2.1 billion with a decline in organic revenue of 2%
- EPS from continuing operations was $0.49 and adjusted EPS from continuing operations, excluding certain items, increased 20% to $0.96
- Brokerage revenue increased 8% to $1.7 billion with a decline in organic revenue of 1%
- Brokerage pretax margin was 11.5% and the adjusted pretax margin, excluding certain items, increased 160 basis points to 21.4%
- Consulting revenue increased 2% to $350 million with a decline in organic revenue of 4%
- Consulting pretax margin was 17.4% and the adjusted pretax margin, excluding certain items, increased 240 basis points to 21.4%
- Repurchased 8.6 million shares of common stock for $340 million
- Increased estimated annualized savings for the 2007 restructuring program by $69 million to $536 million, and costs necessary to achieve savings by $50 million to $750 million
- Completed acquisitions of Allied North America and FCC Global Insurance Services in construction and Carpenter Moore Insurance Services in professional liability
