Business Services Industry
Reuters Sees Brighter Times in Quarter.
Knight Ridder/Tribune Business News, April, 2004
Daily Mail, London Knight Ridder/Tribune Business News
Apr. 22--Reuters said the slide in sales has not been as bad as feared, but warned it is not ready to "break open the champagne."
Its core subscription revenues were down 8.4 percent to UKpound 556 million in the first quarter, ahead of its prediction for a 9 percent drop. The company reckons the second-quarter decline will slow to 6 percent - 6.5 percent.
Reuters shares fell 24 1/2 pence to 390 1/2 pence even though analysts have edged up forecasts.
The shares have more than trebled in a year. The media and news group has benefited from the recovery in investment banking.
Chief executive Tom -Glocer said the "noticeable improvement" in first-quarter trading...
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