Willis Group Holdings Ltd. yesterday said its third-quarter net income rose 49 percent to $89 million, or 56 cents a share, from $45 million, or 28 cents a share, a year earlier.

The insurance broker said its earnings were affected by gains from the sale of its London headquarters and spending on an efficiency drive. Excluding those items, net income would have been $57 million, or 36 cents a share.

Analysts expected the company to earn 35 cents a share, according to the average forecast of 12 analysts polled by Thomson First Call.

Total revenue climbed 11 percent to $543 million from $487 million, while organic revenue, which excludes the impact of recent acquisitions and sales of businesses, rose eight percent.

Willis? operating profit margin was 17.9%, or 15.1 percent on an adjusted basis. ? Dow Jones