Reuters Posts 15% Gain In Revenue For 1990, Slowing From First Half's 26% Growth
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Reuters Holdings PLC reported a 15 percent rise in revenue for 1990, confirming outgoing managing director Glen Renfrew's prediction last summer of slower revenue growth during the second half. The company cited difficult markets, stronger sterling and higher costs, including a 11.1 million pounds sterling ($5.6 million) charge relating to staff cutbacks initiated last fall.
Reuters' revenue rose to $2.64 billion in 1990 from $2.29 billion in 1989. Pre-tax profit climbed 13 percent to $617.8
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