Business
Thomson Reuters Reports Full-Year and Fourth-Qu...
Thomson Reuters Reports Full-Year and Fourth-Qu....
About this update from Trifast Plc
[{"type":"text","content":"\n \n\n\n\n\n * Sales building momentum on the back of positive Q4 2009\n * Full-year revenues and underlying operating margin comparable with 2008\n * Full-year underlying free cash flow exceeds $2 billion, up 9%\n * Fourth-quarter total revenues down 3% before currency; Professional division\n up 1%, Markets division down 5%\n * Adjusted EPS $1.85 for full-year and $0.44 for fourth quarter\n * Integration savings target raised by $200 million to $1.6 billion\n * Board approves $0.04 annual dividend increase to $1.16 per share\n\n\n\nNEW YORK, NY, February 24, 2010 - Thomson Reuters (TSX / NYSE: TRI), the world's\nleading source of intelligent information for businesses and professionals,\ntoday reported results for the full year and the fourth quarter ended December\n31, 2009. Despite challenging global markets, the company successfully held\nannual revenues for 2009, grew underlying profit margins to 21.3% and achieved\nstrong free cash flow growth. For the year, the Professional division grew\nrevenues 3% while Markets division revenues declined 2% due to negative net\nsales and a difficult prior year comparison (up 6%). The underlying operating\nprofit margin improvement was driven by continuing progress on the integration\nprogram, strong cost management and the benefit of currency.\n\nFourth-quarter net sales on a consolidated basis were positive and the best of\nthe year, as an improving operating environment complemented product and service\nimprovements and a reallocation of resources to faster growing markets. Revenues\n(before currency) declined 3%, with the Professional division up 1% and the\nMarkets division down 5%, as revenue flow-through from weak sales earlier in\n2009 held back strong performances in Tax & Accounting, Healthcare & Science and\nMarkets' Enterprise. The underlying operating profit margin was 19.7% in the\nfourth quarter, reflecting revenue declines and product mix.\n\n\"I am pleased with the resilient performance of the company in 2009. Despite the\nworst global operating environment any of us has faced, Thomson Reuters was able\nto hold or improve on our prior-year results, with revenues comparable to 2008\nand underlying operating margin and free cash flow up on the prior year. I am\nalso pleased that our net sales performance improved significantly through the\nyear, with the fourth ...