Revenue for Thomson Tax and Accounting rose to $328 million for the first quarter ended March 31, an increase of 16 percent of $282 million over last year’s corresponding period.The unit’s revenue increased by 17 percent in constant currency and 12 percent organically.
The company pointed to strong seasonal demand for tax and audit products. CEO Mike Hasker cited UltraTax, SurePrep, Confirmation and the Latin American business, all as key contributors. The Corporates segment notched revenue of $507 million, rising 17 percent from $435 million. The total rose 16 percent in constant currency and 12 percent organically.
Overall, Thomson reported $1.89 million in revenue for the most recently ended period, up 8 percent from $1.74 billion a year ago. The company warned the quarter benefited from strong transaction and seasonal revenue not likely to be repeated in the rest of the year.
