GLOBAL - Profit and revenue at Aon Consulting slipped in the second quarter, parent Aon Corp. said.

It said the division's performance was being hit by investments in the business.

Net income at the division fell 20.6% to $23m (€17.8m) from $29m a year before. Segment revenue was down 2% at $309m.

The unit's profit decline was "principally due to investments made in the FALC and Global Benefits practices, and reduced volumes from certain outsourcing clients".

The pretax margin at the business has fallen to 7.4% from 9.2%. Six months pretax income at the segment fell to $53m from $55m.

"We are making investments in our consulting business which hold great promise, but which are affecting current performance," said president and chief executive Greg Case.

Overall the company's second quarter net income was $193m, up from $191m a year before.

Yesterday, it was disclosed that Mercer Human Resource Consulting's profitability in the second quarter was "disappointing", according to parent company Marsh & McLennan Companies.

Consulting segment operating income fell to $124m (€96.7m) in the period from $130m a year before, while revenue was up 4% at $751m. Within the division, retirement consulting increased underlying revenues by 2%.