Business news and information company Reuters Group Plc reported that its fourth-quarter earnings fell less than expected, and it’s looking for strong growth in 2007 on more sales of its terminals, which provide news and data.
Bloomberg reporter Mark Herlihy wrote, “Revenue growth in the Americas region was 8 percent last year, driven by sales of media services. Growth in Asia was 6 percent, benefiting from an improvement in Japan and ‘market- leading’ positions in China and India, Reuters said. Europe, the Middle East and Africa recorded growth of 3 percent, led by the Nordic region and Russia, Reuters said.
“Reuters wants to increase sales in emerging markets and would consider acquisitions in India and China, where growth is slightly over 20 percent, [CEO Tom] Glocer told reporters on a conference call today.
“Glocer, 47, imposed a 30 percent cut in travel and entertainment budgets in October in an effort to trim costs and instead invest in areas of ‘opportunity.’
“The company predicted its so-called trading margin will rise to between 13 percent and 14 percent in 2007, putting Reuters ‘on track’ to reach a medium-term trading margin of between 17 percent and 20 percent.”
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