RELX Plc (REL) Q2 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good morning, everybody. Thank you for taking the time to join us today. As you may have seen from our press release this morning, we delivered strong financial results in the first half and we made further operational and strategic progress. Underlying revenue growth was 7%. Underlying adjusted operating profit growth was 9%. Adjusted earnings per share growth was 10% at constant currency. and we have announced a 7% increase in the pound sterling interim dividend. Group underlying revenue growth of 7% was in line with full year 2024, but with a higher quality growth profile. Risk with continued strong growth. STM with continued good growth and developing momentum. Legal with a further step up in growth. and exhibitions now established at strong ongoing growth. On this chart, you can see the first half growth rate for each business area, as well as the relative sizes of the segments within each of them. You can also see that we're showing print and print-related revenues separately here. I'll come back to that later. In risk. Underlying revenue growth was 8%, in line with full year 2024, and underlying adjusted operating profit growth was 9%. Strong growth continues to be driven across segments by the development and rollout of higher value-add, deeply embedded, AI-enabled analytics and decision tools, with over 90% of divisional revenues coming from machine-to-machine interactions. Business services continues to be driven by financial crime compliance and digital fraud and identity solutions and strong new sales. Insurance continues to be driven by further extension of solution sets, positive market factors, and strong new sales. For the full year, we expect continued strong underlying revenue growth with underlying adjusted operating profit growth slightly exceedin...