RELX Group, the global professional information and analytics company, reports continued underlying revenue growth in the first nine months of 2016 and reaffirms the outlook for the full year. Underlying revenue growth +4% in the first nine months of 2016
- Acquired 15 content, data and exhibition assets year to date, for a total consideration of approximately £330m, in line with prior years
- Completed approximately £670m of the previously announced £700m share buyback, with the remainder to be deployed by year end
- The full year outlook is unchanged: We are confident that we will deliver another year of underlying revenue, profit, and earnings growth in 2016
- Scientific, Technical & Medical: Underlying revenue growth +2%. Our customer environment remains largely unchanged. Key business trends remained positive with strong growth in usage and article submissions. Print book declines continued. Full year outlook: We continue to expect modest underlying revenue growth.
- Risk & Business Analytics: Underlying revenue growth +9%. Strong revenue growth across all key segments, driven by volume growth, the roll out of new products and services, and expansion into adjacencies, with particularly strong transactional revenue growth in the third quarter. Full year outlook: We expect underlying revenue growth trends to continue.
- Legal: Underlying revenue growth +2%. Market conditions in the US and Europe remain stable. Electronic revenue growth was partially offset by print declines. The roll out of new platform releases continued, and adoption and usage rates progressed well. Full year outlook: Trends in our major customer markets are unchanged, continuing to limit the scope for underlying revenue growth.
- Exhibitions: Underlying revenue growth +5%. Underlying revenue growth trends in Europe and in the US were in line with prior year. Japan continued to grow strongly, and China saw good growth. Full year outlook: We expect underlying revenue growth trends to continue to be in line with the prior year. In the full year we expect cycling‐in effects to increase the reported revenue growth rate by around three percentage points.
Source: RELX Earnings Release