Thomson Reuters forecasts further growth in revenue

Global news agency Thomson Reuters has reported a slight increase in revenue and profits on a like-for-like basis in the first quarter of 2012.

Taking out the impact of currency fluctuations, the company made $3.19 billion (£1.97 billion) in revenue in the three months to the end of March, up four per cent on the same period last year.

Underlying operating profits over the same period were up two per cent at $545 million (£336 million). The company said it was expecting "low-single digits" growth in revenue this year.

Chief executive James Smith said in the results announcement: "The first-quarter performance was consistent with our full-year expectations. We are executing against a more focused strategy. In all, we are on track and affirm our full-year outlook."

Last week, Thomson Reuters announced the sale of its healthcare business - which provides data and analytics to hospitals and other healthcare professionals - for $1.25 billion. The company said the proceeds would be reinvested in its "core businesses" - including expansion in emerging world markets.

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