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RELX confident of another year of growth

Published: 08:11 21 Feb 2019 GMT

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Frankie says, RELX ...

Business information and exhibitions firm RELX Group PLC (LON:REL) is confident of another year of growth in 2019.

The key business trends in the early part of 2019 are not much different to 2018, the company said, as it revealed underlying year-on-year revenue growth of 4% in 2018; in sterling terms, revenue growth was 2%.

READ: RELX leaves full-year guidance unchanged after ditching dual Anglo-Dutch structure

Adjusted profit before tax on a constant currency basis was up 3% at £2,145mln from £2,101mln the year before.

The board has proposed a 7% increase in the full-year dividend to 42.1p and has announced an extension of its share repurchase programme, with £600mln of shares set to be bought back in 2019, with £100mln of that target already fulfilled.

"In 2018 we again achieved our objective to deliver good underlying revenue growth, with underlying adjusted operating profit growth ahead of underlying revenue growth, and adjusted earnings per share growth at constant currencies ahead of underlying profit growth," declared Erik Engstrom, the chief executive officer of RELX.

"Our number one strategic priority remains unchanged: the organic development of increasingly sophisticated information-based analytics and decision tools that deliver enhanced value to our customers.

"Key business trends in the early part of 2019 are consistent with 2018, 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 2019,” he added

Shares in RELX nudged up 0.6% to 1,694.5p.

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