25th Oct 2018 09:01
LONDON (Alliance News) - Data and analytics company RELX Group PLC on Thursday reiterated its full-year outlook after posting 4% year-on-year growth in underlying revenue for the first nine months of 2018.
The company said it remains confident in delivering 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.
For 2017, RELX recorded 4% underlying revenue growth and adjusted operating profit of GBP2.28 billion. Adjusted earnings per share totalled 81.0 pence per share.
Underlying revenue is calculated at constant currencies and excludes acquisitions and disposals, assets held for sale, exhibition cycling, and timing effects.
The company's scientific, technical & medical division posted 2% year-on-year rise in underlying revenue for the nine months to end-September on continued growth in electronic revenue, partially offset by a decline in print. The unit is predicted to record a modest underlying revenue growth for the full year.
The risk & business analytics unit posted 8% underlying revenue growth, driven by the insurance analytics business. For 2018, underlying revenue growth trends are expected to continue.
RELX's legal division recorded 2% growth, while exhibitions posted 6% rise in underlying revenue.
RELX shares were trading down 0.4% at 1,519.00 pence in London early Thursday.
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