LONDON - RELX, a leading global provider of information-based analytics and decision tools, has reported a 7% increase in underlying revenue growth for the first nine months of 2024. The company has reaffirmed its full-year outlook, anticipating continued strong growth in revenue, adjusted operating profit, and adjusted earnings per share on a constant currency basis.
The Risk segment, which accounted for 35% of the company's first half of 2024 revenue, achieved an 8% growth year-to-date. This performance is attributed to the robust demand for analytics and decision tools, particularly in Financial Crime Compliance and digital Fraud & Identity solutions, as well as in Insurance and Specialised Industry Data Services.
In the Scientific, Technical & Medical division, which represents 32% of initial 2024 revenue, there was a 4% growth. The sector is benefiting from a shift towards higher growth segments, despite a decline in print revenue. The increase is driven by databases, tools, electronic reference products, and a significant rise in primary research article submissions.
The Legal sector, contributing 20% of the revenue in the first half of 2024, also saw a 7% increase. Growth in this area is fueled by the transition towards more advanced analytics and tools, with Lexis+ and the new Lexis+ AI platform performing well in the U.S. and receiving a positive reception internationally.
Exhibitions, making up 13% of the first half-year revenue, reported the highest growth rate at 13% year-to-date. This surge is due to the enhanced growth profile of the company's event portfolio and successful digital initiatives, building on a favorable comparison with the previous year's performance.
RELX's financial health is evidenced by its underlying growth rates, which are calculated at constant currencies and adjusted for acquisitions, disposals, and assets held for sale. The company excludes exhibition cycling and timing effects to provide a clear view of its organic growth.
As the year progresses, RELX expects its strong performance to continue, with underlying adjusted operating profit growth expected to slightly exceed the underlying revenue growth in all segments.
The information in this article is based on a press release statement from RELX.
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