Reuters Cautious On H2 Trading
Reuters has this morning released Q1 trading figures which are broadly in line with expectations, showing a 6% decline in revenues to £912 million.
The company said that it expects the first half to yield a 2-3% decline in subscription revenues and is more cautious than anticipated on H2 performance, with a decline of 5-6% being predicted. The market had expected a forecast of 4-5% decline, according to analysts at ABN Amro.
As a result of this fairly pessimistic outlook downgrades are likely today and will negatively impact the shares, says ABN.
By 10:15am shares in Reuters were already down 29½p at 480½p.
