News from Thomson Reuters Corp., is of lower quarterly profits and warnings that customer losses in 2009 will continue to damage revenue this year. However the information and news supplier also said that in the fourth quarter, net sales were encouraging.

It predicts that revenue growth will be restored in the last half of 2010. Thomas Glocer, Thomson Reuters Chief Executive, said “We’ve already seen the net sales picture improve significantly through the last quarter and into the first quarter of this year”.

Underlying profit for the fourth quarter dropped 16 per cent to $661 million. Adjusted earnings have dropped from 50 cents a year previously to 44 per cent but Reuters maintains this is still one cent over the average Wall Street estimate. Thomas Singlehurst, a city analyst, sees the company’s outlook as concrete.

The merger between Thomson Corp., and Reuters Group Plc in April 2008 produced annualized savings of $1.1 billion. This is $300 million more than estimated when the deal was made. A 4 per cent annual share increase was approved by the board, bringing the annual dividend to $1.16 a share.

Source: Reuters US