Form 6-K
SECURITIES AND EXCHANGE COMMISSION FORM 6-K Report of Foreign Isuer Pursuant to Rule 13a-16 or 15d-16 For the month of April 2000 REUTERS GROUP PLC 85 FLEET STREET, LONDON EC4P 4AJ, ENGLAND [Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.] Form 20-F __X__ Form 40-F _____ [Indicate by check mark whether the registrant by furnishing the information contained in this Form is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.] Yes _____ No __X__ THIS REPORT IS INCORPORATED BY REFERENCE IN THE PROSPECUTSES CONTAINED IN POST EFFECTIVE AMENDMENT NO. 2 TO REGISTRATION STATEMENT NO. 33-16927 ON FORM S-8, POST-EFFECTIVE AMENDMENT NO. 1 TO REGISTRATION STATEMENT NO. 33-90398 ON FORM S-8, POST-EFFECTIVE AMENDMENT NO. 1 TO REGISTRATION STATEMENT NO. 333-7374 ON FORM F-3 AND REGISTRATION STATEMENT NO. 333-5998 ON FORM S-8 FILED BY THE REGISTRANT UNDER THE SECURITIES ACT OF 1933. SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized. |
Dated: May 11, 2000 | REUTERS GROUP PLC (Registrant) By: /s/ Nancy C. Gardner |
Contact: | Nancy Bobrowitz | Tel: 212-603-3345 | |||||||||||||
Senior Vice President, Corporate Communications Reuters America Inc. nancy.bobrowitz@reuters.com |
Adam Wolf | Tel: 212-603-3581 | ||||||||||||||
Manager, Media Relations Reuters America Inc. adam.wolf@reuters.com |
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Reuters Trading SolutionsReuters Trading Solutions revenue declined by 5% at actual rates and by 3% at comparable rates. Installations of market data and risk management systems were lower in the first quarter because the Millennium affected new orders in the second half of last year. There are signs of improvement in the sales pipeline post-Millennium which should make an impact later in the year. However, these have not yet translated into significant firm orders. The new focus on providing solutions for Reuters clients is producing new opportunities, particularly in the business-to-business (B2B) retail area. Revenue from the Dealing 2000-1 foreign exchange product continues to decline. The upgrade of Dealing products to Dealing 3000 is gathering pace. InstinetInstinets revenue grew by 58% at both actual and comparable rates. This reflected good growth in volumes in US markets combined with the strength of Instinets International business, especially in Europe. The International business grew 105% at actual rates and by 114% at comparable rates. Instinets new product for the fixed income market is now being rolled out and the number of users is growing steadily in the US. The next step will be to roll it out in Europe. Work is progressing well with the retail product which is planned to be launched shortly. Instinet is investing heavily both in these new products and in new technology to meet the demands of the changing market structure. The US remains highly competitive, reflecting changes in market structure and growing retail volumes, putting pressure on both pricing and market share. ReuterspaceReuterspace revenue increased by 14% at actual rates, 17% at comparable rates. Media revenue increased by 4% at actual rates and 5% at comparable rates largely as a result of the strong performance of New Media which offers packages of information to Internet Service Providers. Reuters completed the acquisition of ORT, a leading French provider of company information, in March. ORT will help the company to move forward its strategy for the B2B market. The TowerGroup adds to Reuters research capability in the Information Technology market. Reuters is developing partnerships and making investments that will help to broaden its base of content and technology in order to address new markets. The debut of Reuters financial portal, which was shown in early form at Reuters Infoworld in Geneva, is planned for the third quarter. Plans for the IPO of the Greenhouse Fund continue with Sir David Walker being appointed as Chairman. The quoted investments in the Fund were valued at (pound)370 million at the end of the first quarter. Partners and AssociatesAether Systems completed its secondary financing to fund the joint venture now known as Sila Communications. It has also completed the acquisition of IFX Group Plc, which will become part of the new company. Multex Investor Europe, Reuters joint-venture with Multex, plans to launch in the second quarter. Sponsorship and distribution deals have already been signed. The new venture with Equant to create a high-performance financial markets extranet is intended to start trading early in the second half of the year. Initial discussions with potential customers have produced positive results. Reuters share of revenue generated by Factiva, the joint venture with Dow Jones, was (pound)18 million (US$29 million), up 6% compared to proforma revenue of (pound)17 million (US$28 million) in the first quarter of last year. |
TIBCO Software completed a secondary stock offering of approximately four million shares on March 27 at US$106 per share which will result in an accounting profit for Reuters of approximately (pound)160 million (US$256 million). This will reduce Reuters shareholding from 47% to 45% on a fully diluted basis or 99 million shares. |
End | No. 08/00 |
This news release may be deemed to include forward-looking statements within the meaning of Section 27A of the US Securities Act of 1933 and Section 21E of the US Securities Act of 1934. Certain important factors that could cause actual results to differ materially from those discussed in such forward-looking statements are described in Reuters 1999 Annual Report to Shareholders under the heading Operating and Financial Review -- Cautionary Statements. Copies of the Annual Report are available on request from Reuters Group PLC, 85 Fleet Street, London, EC4P 4AJ. Stabilisation/FSA Note to editors For more details see www.reuters.com/mediapack/ Reuters and the sphere logo are the trademarks of the Reuters group of companies. |
REUTERS REVENUE ANALYSIS - FIRST QUARTER 2000 |
Three months to March 31 |
% Change | Three months to March 31 |
|||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
2000 (pound)m |
1999 (pound)m |
Actual rates of exchange |
Comparable rates of exchange |
2000 US$m |
1999 US$m | ||||||||||
Revenue analysis | |||||||||||||||
by division | |||||||||||||||
Reuters Information | 417 | 405 | 3 | % | 6 | % | 667 | 648 | |||||||
Reuters Trading Solutions | 176 | 185 | (5 | %) | (3 | %) | 282 | 296 | |||||||
Reuters Financial | 593 | 590 | 1 | % | 3 | % | 949 | 944 | |||||||
Instinet | 197 | 125 | 58 | % | 58 | % | 315 | 200 | |||||||
Reuterspace | 43 | 37 | 14 | % | 17 | % | 69 | 59 | |||||||
Divisional revenue | 833 | 752 | 11 | % | 13 | % | 1,333 | 1,203 | |||||||
TIBCO Software | | 8 | | | | 13 | |||||||||
Reuters Business Briefing | | 15 | | | | 24 | |||||||||
Intra group revenue | (1 | ) | (4 | ) | 73 | % | 75 | % | (2 | ) | (6 | ) | |||
Group revenue | 832 | 771 | 8 | % | 10 | % | 1,331 | 1,234 | |||||||
Revenue analysis | |||||||||||||||
by geography | |||||||||||||||
Europe, Middle | |||||||||||||||
East and Africa | 408 | 419 | (3 | %) | 4 | % | 653 | 671 | |||||||
Asia/Pacific | 126 | 124 | 2 | % | (3 | %) | 201 | 198 | |||||||
The Americas | 298 | 228 | 31 | % | 29 | % | 477 | 365 | |||||||
Group revenue | 832 | 771 | 8 | % | 10 | % | 1,331 | 1,234 | |||||||
Revenue analysis | |||||||||||||||
by type | |||||||||||||||
Recurring | 602 | 586 | 3 | % | 6 | % | 963 | 938 | |||||||
Usage | 211 | 151 | 40 | % | 40 | % | 338 | 242 | |||||||
Outright | 19 | 34 | (43 | %) | (44 | %) | 30 | 54 | |||||||
Group revenue | 832 | 771 | 8 | % | 10 | % | 1,331 | 1,234 | |||||||
Note: Group revenue for the three months to 31 March 2000 excludes Reuters share of revenue from the Factiva joint venture of (pound)18 million (US$29 million) (1999 - nil). |
[LETTERHEAD OF REUTERS FOUNDERS SHARE COMPANY LIMITED]18 April 2000 Reuters Founders Share Company Appoints First Japanese MemberLondon The Reuters Founders Share Company announced today that Mr Toyoo Gyohten, President of the Institute for International Monetary Affairs in Japan, has been appointed to the Board as a trustee. Mr Pehr Gyllenhammar, Chairman of the Trustees, said: The Board of Trustees is rapidly becoming a truly international group of directors, well equipped to understand the global business of Reuters Group PLC. I am delighted to have Mr Gyohten a very distinguished member of the Japanese community as a trustee, thus further increasing our reach and understanding. The Reuters Trustees are members and directors of the Reuters Founders Share Company. They have three main duties: to ensure that there is no interference in the integrity and independence of Reuters news services; that the Company devotes the proper resources to maintaining Reuters as the leading world news and information organisation and that no single interest, group or faction comes to dominate its ownership. END |
Note to Editors:Mr Toyoo Gyohten Since December 1995 Toyoo Gyohten has been the President of the Institute for International Monetary Affairs. He serves concurrently as Senior Advisor to the Bank of Tokyo-Mitsubishi, Ltd, Japans prime financial institution. Born in Yokohama, Japan in 1931, Mr Gyohten graduated from the University of Tokyo in 1955 with a BA in Economics. He joined the Japanese Ministry of Finance, Tax Bureau, in 1955. He studied at the Economics and Sociology Department, Graduate School, Princeton University on a Fulbright Scholarship (1956-58). His 34-year career at the Ministry also included five years experience overseas at the International Monetary Fund (Washington DC, 1964-66) and the Asian Development Bank, where he was one of the founding members and served as Special Assistant to the President (Manila, 1966-69). He was appointed Director General of the International Finance Bureau (1984-86). In 1986 he was appointed of Vice-Minister of Finance for International Affairs, a post he held until his retirement from the Ministry in 1989. He was Visiting Professor at Harvard University, Princeton University between 1990 and 1991. In 1991 he joined the Bank of Tokyo and was elected Chairman in June 1992. The Bank merged with The Mitsubishi Bank Limited in April 1996 and he became Senior Advisor to the newly created bank. |
Pehr Gyllenhammar Born 28 April 1935, Gothenburg, Sweden Educated: University of Lund, Switzerland In 1961, Mr. Gyllenhammar joined the Amphion Insurance Company. He later joined the Skandia Insurance Company, where he became a Deputy Managing Director in 1968 and Chief Executive in 1970. He became Managing Director and Chief Executive Officer of AB Volvo on May 7, 1971. He was Chairman and Chief Executive Officer from September 1983 through October 1990 and Executive Chairman from October 15, 1990 to December 2, 1993. Since January 1, 1996 Mr Gyllenhammar is Senior Advisor to Lazard Freres & Co. LLC Mr Gyllenhammar is a member of ; FMC Corporation; Pearson plc; Actinova Limited; and Commercial Union plc and was a member of the of the Board of Directors of United Technologies Corporation until July 1999. Mr Gyllenhammar is Chairman of the Supervisory Board of Cofinec S.A.and Chairman of RFS Co as of September 2, 1999. Mr Gyllenhammar is a member of the Supervisory Board of Polygram N.V. Mr Gyllenhammar is also Founder of The European Round Table of Industrialists and a former member of the International Advisory Committee of the Chase Manhattan Bank, NA. Mr Gyllenhammar was conferred the Honorary Degree of Doctor of Medicine at Gothenburg University in 1981, the Honorary Degree of Doctor of Technology at Brunel University, England in 1987, the Honorary Degree of Doctor of Engineering at the Technical University of Nova Scotia, Canada in 1988, the Honorary Degree of Doctor of Social Sciences at the University of Helsinki in 1990, and the Honorary Degree of Doctor of Law at the University of Vermont, USA, in 1993 He became a Trustee on 28 October 1997 |
Contact: Reuters Founders Share Company |
Tel: 020 7662 2926 |
Peter.V.Thomas Director, Media Relations peter.v.thomas@reuters.com |
Tel: 020 7542 4890 |
Adrian Duffield Manager, Group Corporate Relations adrian.duffield@reuters.com |
Tel: 020 7542 4728 |