- Q3 total revenue of £646 million (Q3 2006: £631 million)
- Underlying revenue growth of 7.6%*
- On an actual basis, revenue increase of 2.3% reflecting currency effects, principally the weaker US dollar
Operating highlights
- Net sales strong in all regions, despite market turbulence
- 30% underlying growth in usage revenues, stimulated by volatile foreign exchange markets and Core Plus transactions initiatives
- Continuing momentum from Core Plus, with 2.8 percentage points of underlying revenue growth
- 10% underlying revenue growth in Asia, 7% underlying growth both in the Americas and in Europe, the Middle East and Africa
Status of Thomson-Reuters transaction
- Good progress with strategic, technical and organisational blueprints for Thomson-Reuters
- As announced in the regulatory update of 8 October, the European Commission has proceeded to a Phase 2 review and the transaction is also being reviewed by the US Department of Justice, with regulatory clearance anticipated to occur in the first quarter of 2008
Tom Glocer, Reuters Chief Executive, said: "I am pleased that our third quarter results have built on the strong revenue growth we saw in the first half of the year, helped particularly by good transaction volumes. This is a good set of numbers that shows our performance has not been impacted by the turbulence in the credit markets, nor any distraction from the Thomson deal. While we remain vigilant for signs of continuing market instability, we believe that the transformation of Reuters over the past several years has better positioned the company to weather the effects of a market downturn.
"On the deal front, we are making good progress with integration planning for the combination and now have a clear timetable from the European and U.S. competition authorities, which keeps us on course for a regulatory clearance in the first quarter of 2008."
*Underlying percentage change excludes acquisitions and diisposals since 1 January 2006 and is stated at constant exchange rates. Reconciliations to equivalent IFRS figures can be found at www.about.reuters.com/investors in the Investor information section. This announcement includes forward-looking statements. See pages 10-11 for a description of risk factors.
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