Low claims volumes and corporate costs cut Crawford & Company’s net profit by more than half in the June quarter, down to $US4.05 million ($5.5 million) from $US10.46 million ($14.22 million) in the corresponding period last year.

CEO Jeffrey Bowman says the market was challenging because a lack of severe weather reduced claims.

The loss adjuster and third-party claims administrator has revised its full-year guidance, with operating earnings likely to rise but a number of charges expected relating to integration and restructuring.

In the June quarter the company incurred charges of $US4.2 million ($5.71 million) for a new services centre in Manila, integration of the GAB Robins acquisition and restructuring elsewhere, which Mr Bowman says will all reduce future costs.

The Broadspire workers’ compensation business grew revenue by 10% to $US73.69 million ($100.17 million), and total revenue increased 6% to $US304.4 million ($412.78 million).