Reuters today announced a drop in revenue and profits for the year ended 31 December 1997 due to the strength of sterling. Revenue was down 1% to £2.882 million (up 9% excluding currency rates) while pre-tax profits fell 3% to £677m (up 11% excluding currency rates).
Meanwhile, the costs of the Millennium Challenge, a global communication campaign aimed at combatting the year 2000 computer problem, reached £11m and are expected to increase to £31m in 1998.
Chief executive Peter Job also said that market consolidation is expected to continue and this is likely to restrict top line growth though overall the company feels there are “opportunities for good growth in underlying operating profit.”
Reuters: 0171 542 8666
Media Jobs
Hello. We have downloaded cookies on your device. Some of these cookies are essential for the website to function. Others are non-essential and are used for analytics and advertising.
We need your consent for these types of cookies.
To withdraw your consent or change your cookie choices, please do this through your browser settings.
Otherwise, click OK to accept and continue.
