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WTW posts strong Q4 result

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A 13% jump in sales for the final three months of last year pushed annual revenue at Willis Towers Watson to $US9.04 billion ($14.76 billion), driven by robust generation of new business and strong client retention.

The result was achieved despite headwinds from lower pension income and foreign currencies for the year, the global broker said.

WTW says it has a “solid foundation” for 2020 and forecasts 6-7% revenue growth on a constant currency basis, compared with 9% in 2019.

“Strong organic growth coupled with operational efficiency gains and prudent expense management are driving margin expansion across all segments,” the company said.

Net income attributable to Willis Towers Watson rose 50% to $US1.04 billion ($1.7 billion) in 2019.

Operating cash flow fell 16% to $1.08 billion ($1.76 billion), hit by additional tax payments.

WTW says its “client-winning experience” in more than 450 markets in 140 countries will fuel continued growth.