RELX Plc - Interim results to 30 June 2019
INTERIM RESULTS FOR THE SIX MONTHS TO 30 JUNE 2019
RELX, the global provider of information-based analytics and decision tools, reports continued underlying growth
in revenue, operating profit and earnings in the first half of 2019, and reaffirms the full year outlook.
Ø Revenue £3,888m +6%, underlying growth +3%
Ø Adjusted operating profit £1,240m +8%, underlying growth +4%
Ø Adjusted EPS 45.9p +12%, constant currency growth +8%
Ø Reported operating profit £1,048m +8%
Ø Reported EPS 39.9p +17%
Ø Interim dividend 13.6p +10%
Ø Strong financial position and cash flow, net debt/EBITDA 2.6x (2.3x excluding leases and pensions)
Ø Completed 8 acquisitions for a total consideration of £246m
Ø £400m of share buybacks completed in H1, further £200m to be deployed in H2
Ø The full year outlook is unchanged. As we enter the second half of 2019 key business trends for the full year are in line with the full year 2018. We remain confident that, by continuing to execute on our strategy, we will deliver another year of underlying growth in revenue and in adjusted operating profit, together with growth in adjusted earnings per share on a constant currency basis in 2019
Commenting on the results, Sir Anthony Habgood, Chairman, said:
"Our continued positive overall development was reflected in strong first half earnings. Adjusted earnings per share grew +12% in sterling, +8% at constant currencies, and we have announced an increase in the interim dividend of +10%."
Chief Executive Officer, Erik Engstrom, commented:
"RELX continued to make good progress in the first half of 2019, with underlying revenue and adjusted operating profit growth across all four business areas, and recent acquisitions performing well. As we enter the second half of 2019 key business trends for the full year are in line with the full year 2018."
"Our number one strategic priority is unchanged: the organic development of increasingly sophisticated information-based analytics and decision tools that deliver enhanced value to our customers, supplemented by selective acquisitions of targeted data, analytics and exhibition assets that support our organic growth strategies."