RELX upgrades its outlook based on demand for analytics
13:44, 21 October 2021
Information provider RELX upgraded its full-year outlook for underlying profit, earnings and revenue growth on Thursday, as a result of increased demand for analytics products, including fraud prevention and identity solutions.
The British company said in a nine-month trading update that it expected the group to perform above historical trends.
Underlying revenue growth
It said that underlying revenue growth in the first nine months of 2021 hit 6%, helped by a 10% revenue jump in its risk division for data services, insurance and demand for fraud prevention and identity solutions.
Its scientific, technical and medical unit recorded revenue growth of 4%, due to research demand in both subscription and open access payments models.
“Electronic revenue, 87% of the divisional total, continued to grow well, while print revenue remained stable. Primary Research growth was driven by continued market share gains in both subscription and open access payment models. Databases & tools and e-reference continued to grow strongly,” the company said.
The group also said that its exhibitions division, which was badly hit by the pandemic, is gradually reopening.
As a result, the company said it expected strong growth, with costs now broadly matching revenue.
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