Thomson Reuters profit jumps 19pc despite recession
Financial information provider Thomson Reuters said Tuesday that operating profits soared by about a fifth to 2.8 billion dollars (2.19 billion euros) in 2008 despite global markets turmoil.
Thomson Reuters, created in April 2008 after Canada's Thomson Corp bought Britain-based news agency company Reuters, added in a results statement that revenues increased eight percent to 13.4 billion dollars last year.
The results were calculated on a pro-forma basis as if Thomson Corp and Reuters had already been trading as a combined group.
"I am very pleased with the operating performance of Thomson Reuters in 2008, as well as the significant progress we achieved in integrating the acquired Reuters business," said Chief Executive Officer Thomas H. Glocer.
"As major economies slid into recession in 2008, we nonetheless continued to perform well, thanks to our proven business model of providing must-have content and services to professionals and our well-balanced set of businesses, both by market and geography."
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