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Dollar saps Reuters revenues.

Information World Review

| May 08, 2007 | COPYRIGHT 2007 Incisive Media, published with the permission of Incisive Media. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)Copyright

Byline: Michelle Perry

Dollar saps Reuters revenues

Revenue at Reuters fell by 1.1% to [pounds sterling]626m in the first quarter of this year compared with [pounds sterling]633m a year ago.

The news provider blamed most of the fall on the weaker dollar. When acquisitions and disposals are stripped out of the results, revenue grew by 6.5% compared with 4% last year.

New revenue came from electronic trading, sales of data products and new initiatives in consumer media, China and India.

"Our first-quarter results confirm that we have made a strong start to 2007," said the company's chief executive Tom Glocer. "Reuters continues to benefit from the focused investment we announced with Core Plus.

"The early indications from [foreign exchange joint venture] FXMarketSpace are encouraging, and we are well positioned to deliver on our full-year expectations."

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Source: HighBeam Research, Dollar saps Reuters revenues.