Reuters Marks Record Loss
ORGANIZATION AND STRATEGY
Reuters’ share price fell to a 14-year low of 132.5p after the company reported a net loss of £394 million, the largest in its 151-year history.
Reuters Group revenue for 2002 slid eight percent to £3.58 billion, reflecting the weak global financial market.
Revenue from the core Reuters business, excluding Instinet, was down two percent at £2.99 billion. Recurring revenue, which accounts for 90 percent of Reuters’ turnover, fell by four percent.
The total recurring revenue was £2.71 billion
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