NEW YORK - The head of Thomson Reuters
(TSX:TRI) says a turnaround of its global professional information
business is nearing completion and he expects growth will return this
year and accelerate in 2016.
"I believe 2015 will mark the first year of organic growth since I took over as CEO (in January 2012) and we're making this prediction in spite of the negative impact of commercial adjustments we need to make this year," Thomson Reuters chief executive Jim Smith said Wednesday in a conference call with analysts.
Smith said Thomson Reuters expects it will take another year to fully complete a turnaround of its Financial and Risk division, which competes with Bloomberg in the delivery of specialized information and terminals for institutional investors and investment firms. The division typically accounts for about half of the company's overall revenue.
The chief executive made the comments after Thomson Reuters announced revenue fell slightly in the 12-months and fourth quarter ended Dec. 31, compared with a year earlier.
Annual revenue totalled US$12.6 billion for 2014, down one per cent from $12.7 billion in 2014. For the fourth quarter of 2014, revenue was $3.211 billion, down $67 million or two per cent from a year earlier.
Read more at Click here / www.trade4x.net
"I believe 2015 will mark the first year of organic growth since I took over as CEO (in January 2012) and we're making this prediction in spite of the negative impact of commercial adjustments we need to make this year," Thomson Reuters chief executive Jim Smith said Wednesday in a conference call with analysts.
Smith said Thomson Reuters expects it will take another year to fully complete a turnaround of its Financial and Risk division, which competes with Bloomberg in the delivery of specialized information and terminals for institutional investors and investment firms. The division typically accounts for about half of the company's overall revenue.
The chief executive made the comments after Thomson Reuters announced revenue fell slightly in the 12-months and fourth quarter ended Dec. 31, compared with a year earlier.
Annual revenue totalled US$12.6 billion for 2014, down one per cent from $12.7 billion in 2014. For the fourth quarter of 2014, revenue was $3.211 billion, down $67 million or two per cent from a year earlier.
Read more at Click here / www.trade4x.net
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