Information group Reuters has announced plans to spend £500m over the next four years moving its services onto the internet.

Chief executive Peter Job said: "The internet has... enabled us for the first time to start serving an infinitely wider market, including individuals making financial decisions at home and at work.

"It has also allowed us to adopt a more cost-effective model for our base business."

The announcement was made as the company reported a robust set of year end figures showing profits before tax for 1999 up £52m at £632m.

The internet move was announced alongside a host of technology deals, including a joint venture agreement with US firm Multex.com to launch a European version of the US group's private investor information service on the internet.

Mobile phone delivery

The European service will be very similar to Multex's US service which was launched in 1998 and has 1.2 million members.

Reuters also announced it had signed a letter of intent with wireless technology company Aether Systems to set up another joint venture to develop information services for delivery through mobile phones.

Reuters will own 40% of the business while Aether will own 60%.

Mr Job said the company already had partnerships with mobile operator Vodafone AirTouch and handset makers Nokia and Ericsson.

"We now want to take the business to a new level and be more directly involved in the provision of specific applications services to the wireless market for our customers," Mr Job said.

The group has yet to decide the way forward for its US-based online stockbroking service, Instinet.

In the statement, it confirmed it was considering a range of options including a separate flotation for the service.

Profit warning

While figures for 1999 were strong, the group said a major restructuring at its financial information division - separate from the internet strategy - would hit results for 2000.

Profits were "bound to be significantly lower," it said.

After an initial dip, the warning proved not enough to dampen the market's enthusiasm for the company's internet strategy and its shares jumped 232p to £12.39 by close.