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NEW YORK (AP) — Consulting and professional services firm Marsh & McLennan Cos. Inc. reported Tuesday that its first-quarter net income rose 7 percent amid strong growth in its risk and insurance as well as consulting businesses.
The company earned $347 million, or 63 cents a share, in the January-March quarter. That was up from $325 million, or 58 cents a share, in the first quarter of 2011.
Revenue increased 6 percent to $3.1 billion from $2.9 billion a year earlier.
Revenue in one of Marsh & McLennan's main divisions, risk and insurance services, rose 7 percent to $1.7 billion. Operating income in the division increased 9 percent to $417 million. The division's fastest growth continued to come in international operations, especially in Latin America and Asia.
The company's other big division, consulting, posted a 4 percent revenue increase to $1.3 billion. Operating income jumped 24 percent to $159 million.
Shares of New York-based Marsh & McLennan advanced 81 cents, or 2.4 percent, to $34.26, near its high for the day of $34.34, in morning trading Tuesday.