RELX plc (LON:REL), the global provider of information-based analytics and decision tools, has issued the following update on trading ahead of the Annual General Meeting, reaffirming the outlook for the full year.
Highlights
RELX has started the year well across all four business areas. Our improving long-term growth trajectory continues to be driven by the ongoing shift in business mix towards higher growth analytics and decision tools that deliver enhanced value to our customers across market segments.
Full year outlook
The full year outlook is unchanged: We continue to see positive momentum across the group, and we expect another year of strong underlying growth in revenue and adjusted operating profit, as well as strong growth in adjusted earnings per share on a constant currency basis.
Risk (34% of 2024 revenue)
- Strong underlying revenue growth continues to be driven across segments by our deeply embedded, AI-enabled analytics and decision tools. Business Services growth continues to be driven by Financial Crime Compliance and digital Fraud & Identity solutions and strong new sales. Insurance growth continues to be driven by the further extension of solution sets, supported by positive market factors and new sales.
- Full year outlook: We expect continued strong underlying revenue growth with underlying adjusted operating profit growth slightly exceeding underlying revenue growth.
Scientific, Technical & Medical (32% of 2024 revenue)
- Good underlying revenue growth continues to be driven by the evolution of the business mix, with higher growth segments representing an increasing proportion of divisional revenue. Databases, Tools & Electronic Reference growth continues to be driven by higher value-add analytics and decision tools, and Primary Research continues to be driven by volume growth, with article submissions growing very strongly.
- Full year outlook: We expect continued good underlying revenue growth with underlying adjusted operating profit growth slightly exceeding underlying revenue growth.
Legal (20% of 2024 revenue)
- Strong underlying revenue growth continues to be driven by the shift in business mix towards higher growth, higher value legal analytics and tools. Lexis+AI, our platform leveraging generative AI, has continued its successful roll-out in the US and international markets, and Protégé, our recently launched next generation generative AI assistant, has been positively received by customers. Renewals and new sales remain strong across all key segments.
- Full year outlook: We expect continued strong underlying revenue growth with underlying adjusted operating profit growth exceeding underlying revenue growth.
Exhibitions (13% of 2024 revenue)
- Strong underlying revenue growth continues to reflect the improved growth profile of our event portfolio, and we continue to make good progress on value-enhancing digital initiatives.
- Full year outlook: RELX expect strong underlying revenue growth with an improvement in adjusted operating margin over the prior full year.
Underlying growth rates are calculated at constant currencies, excluding the results of acquisitions until twelve months after purchase, and excluding the results of disposals and assets held for sale. Underlying revenue growth rates also exclude exhibition cycling, and timing effects. Some figures and sub-totals add up to slightly different amounts than the totals due to rounding.
