Reuters' Third Quarter Results Indicate Cost Cuts, Weaker Financial Prospects
EARNINGS REPORT
LONDON--Tom Glocer, the new chief executive of Reuters, spent the company's third quarter results and strategy conference calls emphasizing efforts to cut costs while trying to soften the blow of weaker financial prospects.
Third quarter revenues of £920 million ($1.4 billion) translated to an increase of 4 percent over the same period last year.
David Grigson, financial director of Reuters, says the company intends to deliver double-digit growth and operating margins of 17 to 20 percent by
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