AJG posts rise in profit to $93.5m
Broker Arthur J Gallagher reported a group increase in profits to $93.5m [£61.4m] for the second quarter of 2013, from $71.7m in the same period of 2013. Adjusted total revenues for AJG’s brokerage segment were up 16%, base organic commission and fee revenues grew 5.9%.
Adjusted net earnings before interest, income taxes, depreciation, amortization and the change in estimated acquisition earnout payables were up 20% and adjusted EBITDAC margin was up 90 basis points
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