News release
AGM TRADING UPDATE
RELX, 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
Full year outlook
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Risk (34% of 2023 revenue)
- Strong underlying revenue growth continues to be driven by our deeply embedded analytics and decision tools across segments. Business Services growth continues to be driven by Financial Crime & Compliance and digital Fraud & Identity solutions, and Insurance continues to be driven by the further development and extension of solution sets across insurance markets.
- Full year outlook: We expect continued strong underlying revenue growth with underlying adjusted operating profit growth slightly exceeding underlying revenue growth.
Scientific, Technical & Medical (33% of 2023 revenue)
- Good underlying revenue growth continues to be driven by the evolution of the business mix towards higher growth segments. Databases, Tools & Electronic Reference growth continues to be driven by higher value-add analytics and decision tools, and Primary Research Academic & Government continues to be driven by volume growth.
- Full year outlook: We expect continued good underlying revenue growth with underlying adjusted operating profit growth slightly exceeding underlying revenue growth.
Legal (20% of 2023 revenue)
- Strong underlying revenue growth continues to be driven by a shift in business mix towards higher growth integrated legal analytics. The roll-out of Lexis+AI, our new platform leveraging value-enhancing generative AI functionality, continues to go well. Renewals and new sales remain strong.
- Full year outlook: We expect continued strong underlying revenue growth with underlying adjusted operating profit growth exceeding underlying revenue growth.
Exhibitions (12% of 2023 revenue)
- Strong underlying revenue growth continues to be driven by increased face-to-face activity across geographies, supported by increased usage of a growing range of value-enhancing digital tools.
- Full year outlook: We expect strong underlying revenue growth with a further improvement in adjusted operating margin.
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.
-ENDS-
Disclaimer regarding forward-looking statements
This announcement contains forward‐looking statements within the meaning of Section 27A of the US Securities Act of 1933, as amended, and Section 21E of the US Securities Exchange Act of 1934, as amended. These statements are subject to risks and uncertainties that could cause actual results or outcomes of
Notes for Editors
About RELX
RELX is a global provider of information-based analytics and decision tools for professional and business customers. RELX serves customers in more than 180 countries and has offices in about 40 countries. It employs more than 36,000 people over 40% of whom are in
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