British media group Reuters said Thursday that revenues were higher in 2007 and gave an upbeat outlook for this year ahead of its agreed takeover by Canada's Thomson Corporation. Revenues rose seven percent to 2.6 billion pounds (3.4 billion euros, $5.2 billion) last year, Reuters said in a final annual earnings release before completion of the Thomson deal. The result was in line with market expectations. Net profit, however, fell by a quarter to 227 million pounds in 2007 but the figure was skewed because Reuters benefited in 2006 from the disposal of its stake in online business information service Factiva. Operating profit rose 14.8 percent to 292 million pounds and Reuters said it expected first quarter underlying revenue growth to be around nine percent, aided by “strong sales momentum.” The Thomson-Reuters deal received regulatory approvals last month and was expected to close on April 17, Reuters said. “Reuters has delivered a signature final year as a standalone company,” chief executive Tom Glocer said in the results statement. “We set ourselves ambitious goals for 2007, did not waver from these and despite significant integration activities and a volatile market we have exceeded all our targets. “I am confident that the new Thomson Reuters will deliver outstanding benefits to customers, opportunities for employees and great value for shareholders.” Thomson agreed last year to buy Reuters for 8.7 billion pounds (11.5 billion euros, $17 billion), creating a combined business called Thomson Reuters that will be led by Glocer. The deal will create the biggest provider of financial data to trading rooms, overtaking current market leader and US rival Bloomberg. Along with the US group Bloomberg, Thomson and Reuters currently dominate the market for providing financial data to banks, investment funds and other financial services firms. __
