Document Management

Thomson Strong Tax And Accounting Results

Parent Category: ROOT
Tuesday, 31 July 2012
Published Date
Written by The Progressive Accountant

Thomson logoThomson Reuter's Tax and Accounting business turned in strong results for the second quarter ending June 30 with a 19-percent increase in operating profit and a 25-percent increase in revenue. Those operations were by far the strongest among Thomson's businesses with the parent company reporting an 8-percent drop in underlying profit and a 1-percent increase in revenue.

Operating profit for Tax and Accounting rose to $56 million in the most rcently ended quarter, up from $47 million a year ago. Revenue of $282 million compared to $229 million in last year's corresponding period. Acquisitions played a major role in the top-line growth with the organic revenue increase at 5 percent over the corresponding period in 2011.

The company saw underling profit drop to $617 million from $669 million while revenue rose to $3.18 billion from $3.16 billion. Thomson's large legal business had a 3-percent increase in revenue.


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