Reuters today announced financial results for the year ended 31 December 1996 which show pre-tax profits rising 17% to £701 million on the back of revenue up 8% to £2,914 million.
The company blamed the low revenue growth on a background of continued banking industry consolidation and quiet foreign exchange markets. It also said that if sterling’s growth continues it will severely restrict revenue and earnings in 1997, though it is expected that, due to the strength of underlying business, growth should extend to double figures.
Reuters: 0171 250 1122
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