Reuters report:
Thomson Reuters have? reported results for the third quarter ended September 30, 2009.? While net sales began to improve in the third quarter, revenue
flow-through from weaker year-to-date net sales in Legal and Markets overshadowed strong performances in Tax & Accounting and Healthcare & Science.
Underlying operating profit margin improvement was driven by the benefit of currency, continuing progress on the integration program and strong cost
management
……/…..
“Despite difficult market conditions, our businesses delivered solid results in the third quarter.? Our Tax & Accounting and Healthcare & Science businesses continued to perform very strongly, and sales of subscription products in our Markets and Legal units improved in Q3 over what we expect were their bottom in Q2.? While the weak year-to-date net sales experienced in recent quarters are now flowing through into revenues, we expect this dip to be shallow and limited to the next few quarters,” said Thomas H. Glocer, chief
executive officer of Thomson Reuters.
“Our ongoing focus on the Reuters integration and close cost management across the company has enabled us to continue to grow underlying operating profit.? While we would welcome a quick return to revenue growth, we understand how to operate in challenging markets and we are confident that we are outperforming the competition,” said Mr. Glocer.
Read the full report at? http://www.reuters.com/article/pressRelease/idUS131036+05-Nov-2009+PRN20091105
So it looks as though legal sales are improving.. but we sense not as much as they had hoped… will this mean acquistions next year ? We imagine there’s going to be a lot of pressure on a lot of people to improve figs for Q.4 09
