Crawford & Company reported a profit of $US19.6 million ($27.69 million) last year, down 26% despite record-breaking revenue from international operations and its Broadspire workers’ compensation business.

Revenue from the claims manager’s Australian operations dipped 2.6% to $US86.64 million ($122.39 million), while group revenue fell 2% to $US1.26 billion ($1.78 billion).

Interim president and CEO Bruce Swain says the result reflects a mixed environment, with a lack of severe storms in North America leading to lower claims activity.

The group recorded a $US7.2 million ($10.17 million) loss in the fourth quarter, but its diversified business model enabled it to end the year with a strong balance sheet and excellent liquidity, he says.