Information provider Relx sees profit growth above historical trends

LONDON (Reuters) -London-based information provider Relx said annual profit was set to grow faster than its historical trend boosted by continued strong demand for its data analytics and fraud prevention tools, and as conferences return after the pandemic.

The group on Thursday said that underlying revenue growth for the year to date was 9%, compared to a historic level of about 4%.

“Momentum remains strong across the group, and we continue to expect full year underlying growth rates in revenue and adjusted operating profit, as well as constant currency growth in adjusted earnings per share, to remain above historical trends,” the group said in its statement.

The risk division, which helps prevent fraud and spots money laundering, the legal division, which owns LexisNexis used by lawyers, and the Scientific, Technical & Medical business, which is used by researchers and doctors for decision-making and collaborating, all performed well.

In its exhibitions business, face-to-face events had returned, boosting underlying revenue growth by 85% in the year to date, as people meet and travel again after the pandemic.

Relx has traditionally been one of the most reliable performers on the London stock exchange since it transformed from an advertising-supported media group to faster-growing data and analytics.

(Reporting by Sarah Young, editing by James Davey)