NEW YORK (Reuters) – Thomson Reuters Corp said on Wednesday it expects its revenue to grow in 2015 and reported that it added more sales for its products to financial customers in 2014.
The news and information company forecast that its revenue would increase, factoring out currency changes or acquisitions.
“I am pleased to say that we expect to return to organic revenue growth and achieve greater profitability in 2015,” Chief Executive Jim Smith said in a statement.
The company reported positive net sales – which strips out cancellations – in its Financial & Risk division after a six year dry spell.
The Financial & Risk division, which caters to banks and other financial institutions, represents more than half of the company’s total revenue. Sales have lagged in recent years as banks slash spending and cut headcount.
Total revenue for the year was flat before currency adjustments at $12.6 billion, meeting the company’s 2014 forecast.
For the fourth quarter, total revenue rose 1 percent before currency considerations to $3.2 billion. It decreased 2 percent when currencies moves were factored in. Analysts on average were expecting $3.27 billion, according to Thomson Reuters I/B/E/S.
The rise in quarterly revenue was due to strength at the company’s Legal division, which reported a 2 percent increase in revenue to $872 million and its Tax & Accounting unit, where revenue rose 10 percent to $397 million.
Adjusted for special items, fourth quarter income was $347 million, or 43 cents per share, compared with $170 million, or 21 cents per share, a year earlier. Analysts were expecting 47 cents per share.