28th Jul 2016 07:21
LONDON (Alliance News) - Information services and analytics group RELX PLC on Thursday hike its dividend substantially in sterling and said it has continued to make progress in the first half.
The FTSE 100-listed Anglo-Dutch company said operating profit in the half to the end of June grew to GBP823.0 million from GBP737.0 million a year prior, as revenue for the business grew to GBP3.26 billion from GBP2.96 billion.
RELX declared a 39% hike to its interim dividend to 10.25 pence per share, a much higher increase than the 6.0% hike to its euro-denominated dividend due to the movement in the euro-pound exchange rate.
RELX said sales in the first half were pushed higher by good trading in its analytics and decision tools arm, offset by continued declines in print revenue from its publishing operations.
"We achieved good underlying revenue growth in the first half of 2016, and continued to generate underlying operating profit growth ahead of revenue growth," said Erik Engstrom, RELX's chief executive.
"As we enter the second half of 2016, key trends across our business are unchanged, and we are confident that, by continuing to execute on our strategy, we will deliver another year of underlying revenue, profit, and earnings growth in 2016," he added.
RELX shares were up 2.8% to 1,446.00p early Thursday.
By Sam Unsted; [email protected]; @SamUAtAlliance
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