19th Oct 2023 08:44
(Alliance News) - Relx PLC on Thursday said revenue increased 8% in the first nine months of 2023 from a year earlier, while reaffirming its outlook for the full year.
The London-based professional information and analytics firm said growth in its Risk division continued to be driven by its "deeply embedded" embedded analytics and decision tools across segments.
In Scientific, Technical & Medical, Relx said growth was mainly due to the evolution of its business mix, with higher growth segments representing an increasing proportion of divisional revenue.
In Legal, growth was driven by Relx's "continuing shift" towards higher growth legal analytics. Meanwhile in Exhibitions, average like-for-like event revenue across the portfolio continued to run ahead of pre-pandemic levels, with increased exhibitor usage of a growing range of digital tools.
Looking ahead, Relx said momentum remains strong across the group as it enters the fourth quarter of 2023. The company anticipates underlying growth rates in revenue and adjusted operating profit to remain above historical trends.
Accordingly, Relx expects this to help stimulate "another year of strong growth" in adjusted earnings per share on a constant currency basis.
Shares in Relx were down 0.6% at 2,870.38 pence in London on Thursday early morning.
By Greg Rosenvinge, Alliance News reporter
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