Reuters, the British news and financial information provider, said today that it expects a recovery in its revenues to continue in the first quarter of 2005, although it is still losing clients.
So-called recurring revenues, which account for over 90% of the group's core revenues, are expected to decline by about 1.5% in the quarter, compared with a fall of 8.4% in the same period of 2004.
While subscriber cancellations exceeded new sales in the fourth quarter, net cancellations showed a considerable improvement compared with the equivalent quarter in 2003, Reuters said.
Reuters's core revenue comes from sales of screens to banks, brokerages and fund managers. The group is recovering from a difficult past few years as its clients have sought to cut costs and orders for its services.
