THOMSON Reuters yesterday said it expects revenue to rise in 2011 after stronger growth in the fourth quarter and more signs that its financial and professional customers are recovering from the recession.
The company, which provides news and information to financial, legal, accounting and healthcare professionals, expects 2011 revenue to rise by a “mid-single digit” percentage. Analysts on average expect 2011 revenue to rise about four per cent, according to Thomson Reuters.
As a result, the company raised its annual dividend by seven per cent to $1.24 per share.
The revenue forecast suggests that the company’s customers are recovering from the economic downturn that caused a pullback in spending and widespread layoffs.
“A shock like the world went through leaves a caution that hangs around for a while,” Chief Executive Tom Glocer said in an interview. “But there’s no question that the conditions themselves are getting better in many of our markets.”
Total revenue from ongoing businesses rose four per cent in the fourth quarter to $3.46bn (£2.15bn), before currency adjustments. Underlying operating profit rose three per cent to $669m.
City A.M. Reporter