Instinet Outshines RTS; Gazelle Project Under Budget
EARNINGS REPORT
LONDON--Instinet's 53 percent actual growth in 2000 outshone a weak, but slightly improved, performance from Reuters Trading Solutions, which is soon to be merged with Reuters Information. Meanwhile, Reuters was under budget on its spending for its business transformation project, formerly known as Project Gazelle.
Instinet's total revenues increased by 53 percent from £525 million in 1999 to £804 million in 2000. Operating margins, meanwhile, declined to 19.5 percent from 24.5 percent because
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