Reuters rides economic storm

13 August 2008 17:36

Thompson Reuters has said that the slowdown in revenue growth is not concerning the company, and that it is well placed to withstand pressures from the wider economic climate.

The announcement comes after the company released results showing a dip in revenues for the quarter, although full-year revenues are on track to grow by between six and eight per cent on last year's results.

Formed by the merger between Canada's Thompson and Reuters earlier this year, the company reported a slight dip in revenues in its markets division, which supplies financial data to companies.

Thompson Reuters' chief executive Tom Glocer said that the results showed a slowdown but not a loss, reflecting the mood of the economy as a whole.

"People were thinking we would go negative growth in the second half, but all the businesses are quite positive. The picture the way I see it is a slight slowing in keeping with the general economy, which is slowing down, but not the sort of falling out of bed we are seeing in media or some of the banking sector."

The economy has so far hit hardest those companies reliant on marketing revenues.

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