Business
RELX 2024 INTERIM RESULTS
RELX 2024 INTERIM RESULTS.
About this update from Relx Plc
[{"type":"text","content":"\n\n25 July 2024\nRESULTS FOR THE SIX MONTHS TO 30 JUNE 2024\nRELX, the global provider of information-based analytics and decision tools, reports results for the first half of 2024 and reaffirms the full year outlook.\n\nFirst half highlights\nØ Revenue £4,641m (£4,499m), underlying growth +7%\nØ Adjusted operating profit £1,583m (£1,486m), underlying growth +10%\nØ Adjusted EPS 59.5p (56.2p), constant currency growth +10%\nØ Reported operating profit £1,431m (£1,308m)\nØ Reported EPS 52.6p (46.0p)\nØ Interim dividend 18.2p (17.0p) +7%\nØ Net debt/EBITDA 2.0x; adjusted cash flow conversion 95%\nØ Completed two acquisitions for a total consideration of £61m\nØ Completed £700m of the previously announced £1,000m share buyback\n \nFull year outlook\nØ 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.\n\nChief Executive Officer, Erik Engstrom, commented:\n\"RELX delivered strong revenue and profit growth in the first half of 2024. 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.\"\n\"We develop and deploy these tools across the company by leveraging deep customer understanding to combine leading content and data sets with powerful artificial intelligence and other technologies. This has been a key driver of the evolution of our business for well over a decade, and will remain a key driver of customer value and growth in our business for many years to come.\"\n\n\n\n\n \n \n\n\n \n \n\n\n \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 \n \nOperating and financial review\nRevenue £4,641m (£4,499m); underlying growth +7%: Electronic revenue, representing 84% of the total, also grew +7%, with the strong growth in face-to-face activity offsetting the print decline.\nAdjusted operating profit £1,583m (£1,486m); underlying growth +10%: Our strategy of driving continuous process innovation to manage cost growth below revenue growth led to a...