Thomson Reuters increases sales forecast again
The Canadian information company Thomson Reuters is benefiting from the recovery in the global economy and is raising its sales forecast for the third time this year. “The momentum of the first half of the year continued in the third quarter, and the sales and revenue development exceeded our expectations,” said CEO Steve Hasker on Tuesday. For the year as a whole, he now expects a Sales growth of between 4.5 and five percent instead of the previously promised growth of four to 4.5 percent. In the third quarter the sales of the parent company of the Reuters news agency by six percent $ 1.53 billion. The adjusted operating profit However, it fell by seven percent due to the cost of restructuring the holding $ 458 million.
“The third quarter was another strong quarter, but we have a lot to do,” said Hasker. The two-year change program for Corporate restructuring costs between 500 and 600 million dollars and aims to transform Thomson Reuters from a content provider to a content and technology focused group. In the third quarter, all divisions contributed to growth except for the business with printed information products – business with products for lawyers, companies and tax experts as well as the news agency Reuters, which achieved a sales increase of six percent. The events business Reuters Events, which suffered from the Corona crisis last year, grew by more than 60 percent. For the time being, most of the conferences would be held virtually, Thomson told Reuters.