Thomson Reuters operating profits fall 9%

Thomson Reuters has reported a 9% fall in operating profit for the year ended 31 December to $1.39bn, down from $1.53bn in 2015, but said it had achieved its full-year 2016 outlook.

Revenue for the year fell 1% to $11.17bn from $11.26bn a year earlier.

In the three months ended 31 December 2016, revenues fell by 1% and operating profit by 32%.

"2016 was a year of continued progress. I am encouraged by the momentum and the foundation we have built heading into 2017, and we are well positioned to deliver on our commitments," said Jim Smith, president and chief executive officer of Thomson Reuters.

"Today's results reflect the clear progress we are making against the objectives we set out three years ago. 2017 is the year we work to accelerate revenue growth. In these uncertain times, customers lean more heavily on trusted partners like Thomson Reuters to help navigate a changing environment and we are ready to help them."