SHARES in the Sedgwick Group of insurance broking and employee benefit businesses slipped 5p to 125p on boardroom warnings of continuing "tough" conditions across most sectors of its activities.

The cautious comment accompanied interim figures detailing a marginal 2 per cent increase in first half pre-tax profits to £64.1 million on revenues up 3 per cent at £490 million.

Operating profits earned on employee benefits consulting activities taking in the Irish Pension Trust edged forward by £0.4 million to £9.8 million. The underlying interim dividend payment is unchanged at 3.0p.