REUTERS GROUP PLC ANNUAL REPORT AND ACCOUNTS 1999

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REUTERS IN THE INTERNET AGEAt the dawn of a new millennium, Reuters embarks on a range of major initiatives toaccelerate its use of web technologies, open new markets and migrate its core financialbusiness to an internet-based model.Reuters vision is to make financial markets really work on the Internet. The companyplays an important role in the functioning of the world’s financial markets. The Internetis prompting dramatic shifts in the financial landscape, giving Reuters the opportunityto deliver products in a different way to many more people needing to manage theirinterests more dynamically.In today’s world, Reuters is already present across all major parts of the electronictrading value chain inside its customers’ organisations. The process starts with tailoredinformation in front of an individual trader in a dealing room and feeding seamlesslyinto spreadsheets to facilitate analysis. Analysis generates the knowledge for buyingor selling successfully. Risk positions are adjusted and at the touch of a button theuser can transact, settle and clear.E-commerce is about making money by going from “knowing” to “doing” in minutesor seconds. Reuters, with its indivisible combination of content and technology, is wellpositioned to extend to each link of the information and technology value chain andto offer integrated solutions to a broader range of financial customers.The Internet recognises no frontiers and enables Reuters to serve this new, wideraudience of financial activists. The new internet age requires fast decisions, an appetitefor risk, and an ability to adapt organisations quickly. The new structure Reutersadopted in 1999 moved the company from a country-based outlook to a business-linestructure and continues to evolve. Further changes will make Reuters more customerfocused,more e-enabled, and lock into wider audiences to exploit the opportunitiesof the Internet.The company is now focused on three business areas: Reuters Financial, which includesthe Reuters Information and Reuters Trading Solutions divisions; Instinet, the electronicequities and fixed income brokerage; and Reuterspace, formerly named ReutersVentures, the vehicle for developing new businesses outside the core financial markets.We believe all of these business areas are well positioned to exploit the opportunitiesof the Internet and e-commerce.Front cover. Fireworks burst from the EiffelTower in Paris as part of global festivities tomark the new Millennium on 1 January 2000.Philippe Wojazer/ReutersThe first dawn of the new Millennium is seen inGisborne, New Zealand, at 5:46am on 1 January.Gisborne is the first city to see the light of eachnew day. Sue Ogrocki/Reuters
2 Financial highlights3 Five year summary4 From the ChairmanSir Christopher Hogg discussesa time of change for Reuters6 New strategyHow Reuters will drive the businessforward in the internet age8 An interview with theChief ExecutivePeter Job answers the keyquestions facing Reuters10 - 15 Divisional reviewsReuters InformationReuters Trading SolutionsBrandingInstinetReuterspaceReuters Greenhouse16 Board of Directors20 Directors’ report22 Corporate governance24 Report on remuneration andrelated matters31 Statement of directors’responsibilities32 Auditors’ report to the membersof Reuters Group PLC33 Operating and financial review44 Consolidated profit andloss account44 Consolidated statement of totalrecognised gains and losses51 Consolidated cash flowstatement56 Consolidated balance sheet57 Reconciliation of movements inshareholders’ funds71 Balance sheet of ReutersGroup PLC73 Accounting policies75 Summary of differencesbetween UK and US GenerallyAccepted Accounting Principles(GAAP)78 Preserving Reutersindependence78 The Reuters Trust Principles79 Other information forshareholders81 Financial diary for 200082 Summary of 1998 and1999 results86 Eleven year consolidatedfinancial summary88 Glossary89 Where to find us
Page 1: REUTERS GROUP PLC ANNUAL REPORT AND
Page 6 and 7: From the Chairman.Theus now is Inte
Page 8 and 9: Reuters, wherChief Executive Peter
Page 10 and 11: Peter Job talks about theprojection
Page 12 and 13: TO FIND OUT MORE VISITwww.reuters.c
Page 18 and 19: Board of Directors1 2 34 567 8Non-e
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Page 27 and 28: EXECUTIVE DIRECTORS’ SERVICECONTR
Page 29 and 30: The table below shows the number of
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Page 37 and 38: growth of 6% at comparable rates. I
Page 39 and 40: OtherYear to 31 December£m 1999 19
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Consolidated cash flow statement fo
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11. Analysis of net fundsBANK/OTHER
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12. Derivatives and other financial
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Reconciliation of movements in shar
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15. Tangible assetsOFFICECOMPUTER E
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17. Stocks1999 1998 1997£M £M £M
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23. Pensions and similar obligation
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26. Capital and reservesPROFIT ANDC
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29. Employee share option plansReut
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32. Acquisitions and disposalsDurin
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Balance sheet of Reuters Group PLC
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Accounting policiesAccounting basis
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Summary of differences between UK a
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38. Adjustments to shareholders’
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Other information for shareholdersI
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Financial diary for 2000Tuesday 8 F
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1999 1998H1 H2 FY H1 H2 FYCosts £M
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1999 1998Net assets £M £MReuters
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1996 1995 1994 1993 1992 1991 1990
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Where to find usCorporate headquart
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www.reuters.com/ REUTERS GROUP PLC
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REUTERS GROUP PLC ANNUAL REPORT AND ACCOUNTS 1999

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