Reuters Expects Slower Growth; Share Price Dips
THIS WEEK'S LEAD STORIES
Reuters Holdings PLC's first-half results, announced July 24, didn't contain any great surprises. But managing director Glenn Renfrew's estimate of slower revenue growth in the second half, coupled with heavy first-half data service cancellations and the nonappearance of strategic transactional services, sent Reuters' share price tumbling.
For the first half, Reuters reported revenue of 688.3 million pounds sterling ($1.2 billion), up 26 percent from a year earlier. Pre-tax profit climbed 23
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