RELX reports strong YTD revenue growth, reaffirms outlook

(Sharecast News) - RELX posted bumper top-line growth for the year-to-date and reaffirmed its 2023 outlook. In a trading update, the information and analytics outfit pegged underlying revenue growth for the first nine months of 2023 at 8%.

"As we enter the final quarter, momentum remains strong across the group, and we expect underlying growth rates in revenue and adjusted operating profit to remain above historical trends," the company said in a statement.

In Business services, growth was driven by Financial Crime Compliance and digital Fraud & Identity solutions.

Insurance meanwhile got a boost from momentum in new sales and positive market factors.

That was alongside "strong" growth in Data Services.

Full-year growth in adjusted operating profits was seen matching that in underlying revenues in Risk, slightly exceeding revenue growth in Scientific, Technical & Medical, and exceeding it in Legal.

Operating margins in Exhibitions was expected to be above pre-pandemic levels.

All of the above guidance was on a constant currency basis.

As of 1150 BST, shares of RELX were off by 0.35% to 2,878.0p, against the backdrop of a falling market.