Reuters And Telerate Report First-Half Growth, But Renfrew Warns Of Second-Half Cuts In Reuters Marketing

Reuters Holdings PLC and Telerate, Inc. each reported gains in operating income of about 30 percent over the first six months of 1988. Telerate's revenue was up 40 percent, to $214 million, while Reuters's sales were up 18 percent, to 471 million pounds sterling.

Telerate's first-half net income was $47 million ($.50/share), up 43 percent from $32.8 million ($.35/share) in the first half of 1987. Reuters's net was 63.4 million pounds sterling ($.77/ADS), up 23 percent from 51 million pounds ($