Relx reaffirms outlook after solid start to year

25th Apr 2024 09:12

(Sharecast News) - Business information and analytics specialist Relx reaffirmed its full-year outlook in an update on Thursday, alongside a strong start to the year across all four business areas, driven by an ongoing shift towards higher-growth analytics and decision tools.

The FTSE 100 company reported positive momentum in its business services segment, with continued growth in financial crime and compliance, and digital fraud and identity solutions, as well as in the insurance sector, driven by the expansion of solution sets.

In the scientific, technical and medical segment, Relx noted good underlying revenue growth, fuelled by the evolution towards higher growth segments and the adoption of higher value-add analytics and decision tools.

Similarly, in the legal sector, strong underlying revenue growth was being driven by the integration of legal analytics and the successful roll-out of Lexis+AI, a new platform leveraging generative AI functionality.

For the exhibitions segment, Relx reported strong underlying revenue growth, supported by increased face-to-face activity and the use of digital tools.

The company maintained its full-year outlook, expecting another year of strong underlying growth in revenue and adjusted operating profit across all business segments.

Additionally, Relx anticipated strong growth in adjusted earnings per share on a constant currency basis.

At 0857 BST, shares in Relx were down 0.57% at 3,286p.

Reporting by Josh White for Sharecast.com.