RELX PLC shares rose 3.6% to 2,085p on Thursday after full-year results met expectations and management unveiled a larger than forecast £2.25 billion share buyback.
The stock remains more than 33% lower than a month ago and down over 40% in six months, hit by wider concerns that advances in artificial intelligence could disrupt parts of its data and publishing operations.
For 2025, the FTSE 100 group reported revenue up 2% at £9.59 billion, with organic growth of 7%.
Adjusted operating profit was up 9% on an organic basis to £3.34 billion, with margins edging up to 34.8% from 33.9%.
Free cash flow was £2.31 billion, with 99% cash conversion, enabling the dividend to be lifted 7% to 67.5p alongside the buyback announcement.
UBS said the results were "in line", with better adjusted FCF conversion and highlighted that leverage has fallen to 2.0 times net debt to EBITDA.
Following a £1.5 billion buyback in 2025, consensus had expected around £1.3 billion for 2026.
UBS said: “Whilst sentiment is fragile and share price moves hard to predict, we believe this print should reinforce the group’s ability to deliver in the face of uncertainty and willingness to step in from a buyback perspective” and noted consistent references to “strong new sales” across divisions, including STM, Risk and Legal.