24th Oct 2019 08:07
(Alliance News) - Business publisher and analytics firm RELX PLC on Thursday reaffirmed 2019 guidance after a solid first nine months of the year.
FTSE 100-listed RELX delivered 4% underlying revenue growth for the first nine months of 2019, with all four business areas delivering an improvement year-on-year.
The Scientific, Technical, & Medical division posted 1% growth in underlying revenue for the nine months, with key business trends "remaining positive". RELX said it expects the unit to post "modest" underlying revenue growth for 2019.
In Risk & Business Analytics, revenue growth on an underlying basis was 7%, a "strong" performance, with insurance having continued to do well, as did data services. RELX sees revenue growth to be in line with 2018.
RELX's Legal business posted 2% underlying revenue growth in the nine-month period, with the market remaining stable, while Exhibitions grew by 6%. Another year of "modest" growth is expected from Legal, while guidance for Exhibitions is for underlying revenue growth to match 2018, despite some "temporary" venue constraints.
"The full-year outlook is unchanged. As we enter the final quarter of 2019 key business trends are in line with the full year 2018. We remain confident that, by continuing to execute on our strategy, we will deliver another year of underlying growth in revenue and in adjusted operating profit, together with growth in adjusted earnings per share on a constant currency basis in 2019," said RELX.
RELX shares were up 1.2% at 1,790.47 pence in London early Thursday.
By George Collard; [email protected]
Copyright 2019 Alliance News Limited. All Rights Reserved.
Related Shares:
Relx