17 August 2017
Find out more

Thomson Financial revenues down six per cent

31 July 2003  |  3157 views  |  0 Thomson Financial revenues down six per cent

Thomson Financial revenues declined six per cent to $379 million in the second quarter as the company continued to be affected by ongoing weaknesses in the financial services market, particularly in Europe.

Earnings before income tax, depreciation and amortisation increased four per cent to $102 million, as the company reaped the benefit of cost-cutting programmes and platform consolidation. The six per cent revenue decline was also offset by favourable currency translation.

Despite the slowdown, Thomson says the business continued to add new customers for the re-branded Thomson ONE suite of products.

Across the group as a whole, revenues increased by two per cent and earnings by seven per cent.

Richard Harrington, president and chief executive officer of Thomson Corporation, comments: "While our financial services customers, particularly in Europe, continue to struggle, there are signs that many of our other markets are poised for improvement, as evidenced by the solid growth we have delivered in our legal, tax, scientific, healthcare, and higher education businesses."

Comments: (0)

Comment on this story (membership required)

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board: sign up now

Related stories

Thomson and RDC in corporate trading compliance alliance

Thomson and RDC in corporate trading compliance alliance

30 July 2003  |  2788 views  |  0 comments
Thomson releases Microsoft Excel add-in for One Analytics

Thomson releases Microsoft Excel add-in for One Analytics

09 July 2003  |  3783 views  |  0 comments
ING-CHB selects Thomson's Portia for portfolio management

ING-CHB selects Thomson's Portia for portfolio management

01 July 2003  |  3286 views  |  0 comments
Thomson rolls out ONE Yield system for US fixed income

Thomson rolls out ONE Yield system for US fixed income

19 June 2003  |  3007 views  |  0 comments
Thomson's ambitions fails to dent Reuters' share price

Thomson's ambitions fails to dent Reuters' share price

11 June 2003  |  4855 views  |  0 comments
Thomson Financial to add Alacra PIB system to One Banker

Thomson Financial to add Alacra PIB system to One Banker

10 June 2003  |  3970 views  |  0 comments

Related company news

 

Related blogs

Create a blog about this story (membership required)
visit www.worldpaymentsreport.comdownload the paper nowvisit www.dorsum.eu

Who is commenting?

Top topics

Most viewed Most shared
Coinbase raises $100mCoinbase raises $100m
10505 views comments | 14 tweets | 14 linkedin
DBS Bank launches online car selling marketplaceDBS Bank launches online car selling marke...
9909 views comments | 13 tweets | 11 linkedin
China preps central clearing house for mobile payments providersChina preps central clearing house for mob...
9862 views comments | 8 tweets | 15 linkedin
Monzo appoints Curve co-founder Foster-Carter COOMonzo appoints Curve co-founder Foster-Car...
8223 views comments | 1 tweets | 3 linkedin
hands typing furiouslyCompliance: Overcome the data deficit
7688 views 0 | 1 tweets | 8 linkedin

Featured job

Find your next job