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Article: Holding Willis Group Holdings - Analyst Blog
- Article from:
- Zacks Investment Research - Analyst Blog
- Article date:
- June 25, 2008
- Author:
CopyrightCopyright 2008 Zacks Investment Research. (Hide copyright information)
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Holding Willis Group Holdings - Analyst Blog
Willis Group Holdings Limited's
(
WSH
) first-quarter adjusted earnings stemmed from stronger than expected revenue growth and lower share count. Though management expects to deliver strong financial performance over the next several years, we suspect the implementation of cost saving initiatives may curtail near-term results.
Organic new business growth remains in the lower-single digits and the 4Q06 10% level appears to have been the peak, as we do not see acceleration given the market softness. As a result of the recently announced acquisition and revised guidance, we are maintaining our FY08 earnings ...