Collapse In Internet Value Does Not Affect Reuters Strategy, Says Chief Executive – 13 February 2001
Revenues at information services company Reuters rose by 15% to £3.6 billion for the year ended 31 December 2000, according to financial results released this morning. Pre-tax profit rose by 4% from £632 million to £657 million and earnings per share were up 26% at 37.9p.
Chief executive Peter Job said: “The Internet and its technologies remain a powerful driver for us, permitting us to improve the way we work and help our customers to enhance their performance. The collapse of the valuation bubble around internet stocks has not affected our strategy, which goes forward as we stated last year. We are confident this technology revolution will continue to open up many new opportunities for the Group.
“The Company’s businesses ended the year well, with every prospect of further growth under Tom Glocer, the new CEO, who will take office at mid-year,” he added.
A 12:30pm today shares in Reuters were up 47p at 1,067p.
