Thomson Reuters set to resume growth

The parent company of the Reuters financial news service could see revenue growth in the second half of 2010, according to comment made by Thomson Reuters CEO Tom Glocer at its annual meeting Friday.

Jeff Gray of the Toronto Globe and Mail writes, “In a speech to shareholders at the company’s annual general meeting in downtown Toronto, CEO Tom Glocer said Thomson Reuters stood to gain from new products being launched this year, including software for the financial services industry, tax professionals and lawyers, as well as Reuters Insider, a new Web-based business news television service.

“He said recent first-quarter results that showed the company with an underlying operating profit of $555-million (U.S.), down 6 per cent from a year before, still suggest the firm is on the right track. ‘While the numbers themselves were flat to slightly down … the market viewed them quite favourably and there is much to be positive about.’

“In comments after the meeting to The Globe and Mail, Mr. Glocer said that while volatility in Greece was helping the company’s currency trading and news businesses, he had concerns about the European economy.

“‘Not just Greece or the knock-on effect, but I’m worried about deflation, whether we’re going to see default eventually, notwithstanding the euro rescue plan, the implications of crowding out the private market and what ultimately they need to grow their economies,’ Mr. Glocer said. ‘And that looks challenging.'”

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