March 6, 2008 / 7:10 AM / 10 years ago

Reuters 2007 trading profit 385 mln stg

LONDON, March 6 (Reuters) - News and financial information provider Reuters RTR.L said 2007 trading profit was 385 million pounds ($762 million) and 2008 had started well. “Early indications for 2008 are encouraging despite the uncertain market environment, with strong sales momentum reflecting the robustness of the Reuters business mix,” the company said in a statement on Thursday.

Underlying revenue growth in the first quarter is expected to be around 9 percent, it added.

Revenue for the year to end-December rose 7 percent on an underlying basis to 2.605 billion pounds. Reuters was forecast to have revenues of 2.608 billion pounds, according to a poll of 10 analysts by Reuters Estimates.

Reuters is being taken over by Canadian electronic publisher Thomson Corp TOC.TO in a cash and shares deal scheduled to complete on April 17.

Reuters said in an update on Feb. 29 that its 2007 earnings before interest and tax -- or trading profit -- would be no less than 380 million pounds.

The combined business, which will be called Thomson Reuters, will span legal, financial services, tax and accounting, scientific, healthcare and media markets. (Reporting by Gavin Haycock; Editing by Alexander Smith)

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