THOMSON PROFIT DROPS
By Adnews Staff
Toronto-based Thomson Corp. reported a 28% drop in profit last year to $569 million(US). However, the conglomerate considers it a successful year because all four of its business groups strengthened their market positions. Thomson says the reason for the drop is due to acquisitions and sales of businesses over the past two years. Had it not been for this, earnings would have jumped 11.6% from 1995. Earnings for Thomson's newspaper division as a percentage of sales remained flat at about 17%. Total company revenue rose 7% last year to $7.7 billion from $7.2 billion in 1995. In addition to Thomson's newspaper division, which includes The Globe and Mail, Thomson operates a British leisure travel group and a speicalized information and publishing arm.