RELX PLC (LON:RELX) shares ticked higher after the information analytics provider said it expects full-year results to be in line with last year, although the weak print book market has offset improving electronic revenues.
As a result, “modest” underlying revenue growth is expected from the scientific, technical & medical and the legal segments for the full year, having gone up 1% and 2% respectively in the first nine months.
READ: RELX reaffirms full-year guidance, expects underlying growth in revenue and profits to continue
For the first nine months of 2019, underlying revenue has increased 4%, showing “some improvement” compared to the first half.
The FTSE 100-listed company said it keeps improving the analytics software in the science segment, while it expands in the “stable” legal services market environment by rolling out new dataset platforms.
The risk & business analytics and exhibitions arms, where underlying revenue grew by 7% and 6% in the period, are expected to deliver a similar performance to last year.
The revenue growth rate in the exhibitions segment is expected to drop by five or six percentage points due to “cycling-out effects”, according to a trading update.
In Japan, “venue constraints” were affecting business but this was “more than offset” by positive performance in Europe, the US and China.
The company has acquired 12 assets for a total cost of £378mln year to date and sold seven assets for £62mln, and completed £550m of the previously announced £600m share buyback, with the remainder to be deployed by year-end.
“RELX continues to show strong organic revenue growth across all business units and we remain confident in management’s ability to deliver against market expectations for the financial year,” broker Liberum said in a note.
Shares were up 2% to 1,807.5p in the early morning on Thursday.