25th Apr 2024 09:58
(Alliance News) - Relx PLC told its annual general meeting on Thursday that it has started the year well across all four of its business areas, leaving its 2024 guidance unchanged.
Relx is a London-based provider of information-based analytics and decision tools for professional and business customers.
It provided no actual figures on Thursday, but said it is seeing "positive momentum across the group". It expects "strong underlying growth" in revenue and adjusted operating profit, as well as strong growth in adjusted earnings per share at constant currency.
For 2023, Relx booked revenue of GBP9.16 billion, up 7.1% on 2022. Adjusted operating profit was GBP2.72 billion, up 9.1%.
For its Risk; Scientific, Technical & Medical; and Legal divisions, Relx further specified that underlying adjusted operating profit growth is expected to slightly exceed underlying revenue growth. For the Exhibitions business, Relx said only that it expects strong underlying revenue growth and further improvement in adjusted operating margin. Exhibitions is the company's smallest division at 12% of revenue, while Risk is the largest at 34%.
Relx shares were down 0.4% to 3,292.00 pence early Thursday in London.
By Tom Waite, Alliance News editor
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