News and information giant Thomson Reuters recorded a year-on-year fall in operating profit of 15 per cent in the first three months of the year.
Reporting its quarterly earnings today, the company said the ‘flow-through’of weak sales last year had affected business, however, chief executive, Tom Glocer, said he expected to see revenue growth return in the second half of the year.
Operating profit stood at $321m (£212m) in the three months to the end of March, down from $376 (£248m) in the same period last year, a 15 per cent fall overall.
The company said underlying operating profit declined six per cent to $555m (£366m) with a profit margin of 17.7 per cent.
Revenue for Thomson Reuters was flat at $3.1bn (£2bn) and up one per cent from ongoing business.