RELX Backs 2019 View After Nine-Month Underlying Revenue Rose 4%
By Anthony O. Goriainoff
RELX PLC (REL.LN) said on Thursday that overall underlying
revenue for the first nine months of 2019 rose 4%, and backed its
guidance for the year.
The Anglo-Dutch professional-information and events group said
that for the first nine months, underlying revenue--a measure which
strips out exceptional and other one-off items--grew 1% at its
scientific, technical and medical division--the company's largest
segment. The company said it expects another year of modest
underlying revenue growth in this division.
RELX said that underlying revenue in risk and business analytics
rose 7%, in legal it rose 2% and for its exhibitions unit it grew
by 6%, in the period.
The company behind medical journal the Lancet and the London
Book Fair said that to date it has completed share buybacks worth
550 million pounds ($708.3 million) of the previously announced
GBP600 million, and plans to deploy the remainder by year end.
The company didn't provide any profit or revenue figures for the
year. However adjusted pretax profit consensus is GBP2.31 billion,
taken from FactSet and based on the forecasts of nine analysts,
compared with GBP2.15 billion the year before. Revenue consensus is
GBP7.9 billion, also taken from FactSet and based on 17 analysts'
forecasts, compared with GBP7.49 billion in 2018.
Write to Anthony O. Goriainoff at
(END) Dow Jones Newswires
October 24, 2019 02:42 ET (06:42 GMT)
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