RELX PLC (LON:RELX) raised its annual dividend even as its exhibitions business posted losses due to the impact of COVID-19.
Exhibitions revenues dropped 71% to £362mln in the year to end-December 2020, pulling the group total down by 10% to £7.1bn.
Profits were also hit by Exhibitions' near £500mln swing into an operating loss of £164mln, with the group total 20% down at £1.48bn.
RELX said aside from exhibitions, its three largest businesses areas of STM, risk and legal performed steadily during the year with sales and profits both edging higher.
The Anglo-Dutch FTSE 100 member added it expected these three businesses would grow revenues and profits again in 2021, but the timing and pace of recovery in Exhibitions remained uncertain.
Net debt including leases, was £6.9bn (£6.2bn) at 31 December 2020, down from £7.5bn at the end of the first half.
The dividend for 2020 rises 3% to 47p.