Good News As Reuters' Earnings Rise
Media group Reuters revealed higher-than-expected profits for its first half, and said sales were strong.
The business is being taken over by Canadian publisher Thomson.
"Against the backdrop of the pending..., Reuters stayed focused on driving growth in the first half and delivered the strongest six months of sales and installations in more than five years," said CEO Tom Glocer.
Reuters is expecting the formal filing of the Thomson deal with European competition authorities in September following pre-filing discussions.
First-half trading profit rose to £175m from £156m a year ago.
Currency effects, mainly the weakening of the dollar against sterling, cut trading profit by £25m.
The group said that, because it was in an offer period, it was not giving any revenue or margin guidance for 2007.
Canadian-based electronic publisher Thomson on Thursday said the two companies were making good progress in obtaining the required regulatory approvals for the acquisition.
The companies announced in May that Thomson was buying London-based Reuters for £8.6bn in cash and stock to create the world's leading provider of news and data for professional markets.
The company expects full year capital expenditure to be similar to last year's £228m.