Reuters improvements continue

News provider Reuters has said it expects its recurring revenues to continue their recovery into Q1 2005, with underlying recurring revenues for the quarter likely to decline by around 1.5%, compared to a decline of 8.4% in the equivalent quarter last year.

Recurring revenues account for more than 90% of Reuters core revenues (excluding Instinet).

The key lead indicators of recurring revenue performance are subscriber sales and cancellations.

While subscriber cancellations exceeded new sales in the fourth quarter, net cancellations showed a considerable improvement compared to the equivalent quarter in 2003.

Tom Glocer, Reuters Group Chief Executive, said: "I am pleased that our steady progress toward positive revenues remains on track."