Business
RELX 2023 INTERIM RESULTS
RELX 2023 INTERIM RESULTS.
About this update from Relx Plc
[{"type":"text","content":"\n\n27 July 2023\n \nRESULTS FOR THE SIX MONTHS TO 30 JUNE 2023\n \nRELX, the global provider of information-based analytics and decision tools, reports results for the first half of 2023 and reaffirms the full year outlook.\n \n\n\n\n\nFirst half highlights\nØ Revenue £4,499m (£3,969m), underlying growth +8%\nØ Adjusted operating profit £1,486m (£1,239m), underlying growth +16%\nØ Adjusted profit before tax £1,350m (£1,163m), constant currency growth +12%\nØ Adjusted EPS 56.2p (47.2p), constant currency growth +14%\nØ Reported operating profit £1,308m (£1,081m)\nØ Reported profit before tax £1,137m (£998m)\nØ Reported EPS 46.0p (39.5p)\nØ Interim dividend 17.0p (15.7p) +8%\nØ Net debt/EBITDA 2.2x; adjusted cash flow conversion 95%\nØ Completed two acquisitions for a total consideration of £111m\nØ Completed £550m of the previously announced £800m share buyback\nFull year outlook\nØ As we enter the second half, momentum remains strong across the group, and we expect underlying growth rates in revenue and adjusted operating profit to remain above historical trends, driving another year of strong growth in adjusted earnings per share on a constant currency basis.\n\n\n\n\n \nChief Executive Officer, Erik Engstrom, commented:\n \n\"RELX delivered strong revenue and profit growth in the first half of 2023. The 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.\"\n \n\"By embracing artificial intelligence technologies for well over a decade we have been able to develop and deploy these analytics and decision tools across the company, and we believe that our ability to leverage AI, as it evolves, will continue to be an important driver of our business going forward.\"\n \n\"In recognition of our strong cash flow and financial position we have announced an 8% increase in the interim dividend to 17.0p.\"\n \n\n\n\n\nENQUIRIES:\n \n\n\nColin Tennant (Investors)\n+44 (0)20 7166 5751\n\n\nPaul Abrahams (Media)\n+44 (0)20 7166 5724\n\n\n\n\n \n \nOperating and financial review\n \nRevenue £4,499m (£3,969m); underlying growth +8%: Electronic revenue, representing 84% of the total, grew +7%, with a further recovery in f...