New York (AFP)

Thomson Reuters, a US-Canadian media and services group, reported a sharply lower second-quarter profit in the second quarter, divested from its former financial terminal and market data business, which will be sold on the London Stock Exchange (LSE). ), of which Thomson Reuters will become a shareholder.

The net profit was divided by more than three (-71%), to 189 million dollars, a decrease that the group attributes to an unfavorable base effect, because Thomson Reuters still counted the results of the division "Financial and Risk" in the second quarter of 2018.

As of October 1, 2018, the company disposed of this business, which includes financial terminals and market data, of which 55% of the capital was sold to Blackstone Investment Company for $ 17 billion.

On Thursday, the London Stock Exchange (LSE) group announced that it is in the process of acquiring this entity, renamed Refinitiv, for $ 14.5 billion, with a debt recovery of $ 12.5 billion.

At the end of this operation, Thomson Reuters will become a shareholder of LSE at about 15%, announced the group in a statement.

With this divestment, Thomson Reuters has made a strategic reorientation, to focus now on services and abandon market technology.

The most important activity of the new group is now Legal Counsel, which accounts for nearly half of the turnover (42%) in the second quarter. It is also, by far, the one that contributes the most to the operating margin (82%).

By comparison, the Reuters News division, which includes the Reuters news agency, has a turnover of $ 156 million over the three months from April to June, but represents only 3% of the margin.

In total, sales are up 9% to $ 1.42 billion.

The group has slightly raised its revenue and operating margin forecasts for 2019 and 2020. It is aiming for a 3.5% to 4% increase in revenue this year compared to a range of 3 to 3.5% in organic terms. that is to say without counting the service contract that binds him to Blackstone.

The group is to provide Blackstone and Refinitiv with information from the Reuters News news agency, which remains in the hands of Thomson Reuters, under a 30-year contract for $ 325 million a year.

© 2019 AFP