Thomson Reuters (TSX / NYSE: TRI), reported results for the full year and the fourth quarter ended December 31, 2009.   Despite challenging global markets, the company successfully held annual revenues for 2009 grew underlying profit margins to 21.3% and achieved strong free cash flow growth.  For the year, the Professional division grew revenues 3% while Markets division revenues declined 2% due to negative net sales and a difficult prior year comparison (up 6%).  The underlying operating profit margin improvement was driven by continuing progress on the integration program, strong cost management and the benefit of currency.  

T. Glocer, CEO stated:  “2010 will be another year of important investment for Thomson Reuters, with the final year of heavy integration spending in Markets, the release of important new product platforms, such as WestlawNext in Legal and ‘Project Utah’ in Markets, targeted investments in higher growth units such as Tax & Accounting, Enterprise and Healthcare & Science, as well as in emerging markets. While these investments will have a short-term impact on operating margin, they are designed to accelerate future growth and we expect operating margin to rebound in 2011.  Source:  Thomson Reuters Press Release

BIIA Newsletter April I – 2010 Issue