Reuters, the news and information organisation, has reported its first loss as a listed company with a pre-tax loss of £88m (€139m) after goodwill and amortisation.

The group, which has been hit hard by spending cutbacks among its investment banking clients, attributed the loss to a £156m restructuring charge and losses of £61m at Instinet, its agency broking subsidiary. This compares to a profit of £357m for the first half of 2001, which included £200m from Instinet's initial public offering.