Willis Towers Watson profits slide by a third

London-based advisory giant Willis Towers Watson has reported a fall in profits of 37% to $72m (£54.8m; €64.6m) for the second quarter.

The firm attributed the drop to seasonal factors, with the April to June quarter being a traditionally weak period for contract renewals for some lines of business.

Revenues increased 8% from the same period a year ago to $1.95bn.

New York-listed Willis and Towers Watson merged in an $18bn deal to form a single business in January this year.

It employs 39,000 people in more than 100 countries.

"I'm encouraged with the results this quarter for a number of reasons. We've made significant strides in our integration efforts, kept continued focus on the market and our clients, and won new business through the strong collaboration of our colleagues around the world," Willis Towers Watson's chief executive John Haley said in a statement.

"As I work with our colleagues across the globe, I become more confident each quarter that we'll achieve our merger-related goals."