Marsh & McLennan swings to loss on Kroll write-down

By Associated Press May 7, 2008 Comments (0)

0 Recommendations

Insurer Marsh & McLennan says it lost money in the first quarter after writing down goodwill related to its Kroll consulting unit.

New York-based Marsh & McLennan Companies Inc. said Wednesday it lost $210 million, or 40 cents per share, on total revenue of $3.05 billion. That compares with a profit of $268 million, or 49 cents per share, on revenue of $2.81 billion a year earlier.

The company says it took a goodwill charge of $425 million, or 81 cents per share, in the most recent quarter for the Kroll risk consulting business. Excluding certain items and discontinued operations, the company says it earned 46 cents per share in the quarter.

Thomson Financial says analysts expected a profit of 45 cents per share on revenue of $2.92 billion.

Comments (0)

Comments from our Foolish Readers

Help us keep this a respectfully Foolish area! This is a place for our readers to discuss, debate, and learn more about the Foolish investing topic you read about above. Help us keep it clean and safe. If you believe a comment is abusive or otherwise violates our Fool's Rules, please report it via the Report this Comment icon found on every comment.

Be the first one to comment on this article.

Report This Comment

Use this area to report a comment that you believe is in violation of the community guidelines. Our team will review the entry and take any appropriate action.