Relx profits, dividend up on strong revenues
Relx increased reported a rise in interim profits and lifted its dividend after a strong increase in revenues.
The information and analytics group said adjusted operating profit rose 16% to £1.2bn. On a pre-tax basis profit were up to £998m to £825m and the dividend was lifted 10% to 15.7p a share.
"As we enter the second half, 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," it said.
Revenue was £4bn, up 13% on a constant currency basis, reflecting good growth in electronic revenue, representing 85% of the total, supported by further development of analytics and decision tools, and a recovery in face-to-face revenue, Relx said.
Reporting by Frank Prenesti at Sharecast.com