WTW comes back from Q3 loss
Willis Towers Watson’s net income rebounded from a $US35 million ($48.6 million) loss in the third quarter of last year to $US85 million ($118.04 million) in this year’s third quarter.
The group, which has adopted a new revenue accounting standard, says net income would be $US46 million ($63.88 million) under the new measurement.
It has recorded net income of $US621 million ($862.37 million) over the past three quarters, up from $US339 million ($470.76 million) in the corresponding period last year.
CEO John Haley says the group’s performance reflects strong organic revenue growth, improved profit margins and strong growth in free cashflow.