Aon’s Case confident as restructuring on trackOctober 28 2019 by Andrew Tjaardstra
Following a sold third quarter the broker is on track to complete its restructuring programme which has cost it US$1.53 billion.
It is set to save the company around US$535 million next year, which has included a large number of redundancies.
Aon’s global chief executive Greg Case commented: “Our third quarter results reflect continued progress resulting from our Aon United initiatives, highlighted by strong organic revenue growth of 5% and substantial operating margin improvement of 350 basis points. We are building momentum year-to-date as reflected in a 200 basis point acceleration of organic revenue growth to 6%, translating into double-digit free cash flow growth.”
Third quarter revenue climbed 1% to US$2.4 billion.
He added: “We continue to strategically invest in content and capability while taking progressive steps to consistently deliver the best of our global firm to clients, strengthening our ability to deliver innovation and improved financial performance that we believe will unlock significant shareholder value creation.”
“Looking ahead, we expect strong performance in the fourth quarter to close out the year with continued progress against our goal of mid-single digit organic revenue growth or greater over the long-term.”
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