Reuters' Share Price Hit by Downward Revenue Guidance

ORGANIZATION AND STRATEGY

Reuters' share price dropped to a 12-year low at 160 pence last Wednesday after Reuters announced weaker than expected revenue results and revised its revenue expectations for the first half of 2003. The share price had rebounded to 177 pence at press time last Friday.

Reuters' third quarter revenues were £855 million, down seven percent from the comparable period in 2001 in overall terms. Excluding Bridge and adjusting for currency movements, revenues declined eight percent quarter over quar

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