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Reuters Annual Report 1998: Operating and financial review: Income from fixed asset investments and associates

Income from fixed asset investments and associates

During 1998, a number of investments in high technology companies, held within the Reuters Greenhouse Fund, were sold resulting in an exceptional profit of £26 million. The sales related principally to investments in Yahoo!, Infoseek and Sportsline.

Income of £3 million from fixed asset investments comprised distributions from a US venture capital fund specialising in high technology companies.

The group’s shares of losses from associates of £1 million in 1998 included Reuters share of the profit of Independent Television News (ITN) less goodwill amortisation of £5 million related to investments in associates in the second half of 1998.

  

 

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