Operating profit for Tax and Accounting for the most recently ended quarter fell to $90 million, down from 498 million. Revenue was $327 million, up 1 percent from $324 million in last year’s corresponding period. Organic revenue rose by 6 percent and the total was up 5 percent in constant currencies.

“We have had a good first half of the year both operationally and financially,” CEO James Smith said in this week’s earnings webcast. “Our guidance for 2015 is to return to positive organic revenue growth on a constant currency basis and we are on our way to toward achieving that objective.”

Thomson continued to emerge from the drag of its financial services business. Smith said that business is starting to gain traction with the sector achieving its first quarterly increase in revenue in three years, an increase of 1 percent.

Overall, net profit was $405 million, an increase of 6 percent from $381 million in last year’s corresponding period. Company revenue reached $3.03 billion, a 4-percent drop from $3.16 billion a year earlier. However, revenue was up 2 percent before currency adjustments.

Bob Scott

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Bob Scott has provided information to the tax and accounting community since 1991, first as technology editor of Accounting Today, and from 1997 through 2009 as editor of its sister publication, Accounting Technology. He is known throughout the industry for his depth of knowledge and for his high journalistic standards.  Scott has made frequent appearances as a speaker, moderator and panelist and events serving tax and accounting professionals. He  has a strong background in computer journalism as an editor with two former trade publications, Computer+Software News and MIS Week and spent several years with weekly and daily newspapers in Morris County New Jersey prior to that.  A graduate of Indiana University with a degree in journalism, Bob is a native of Madison, Ind