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LONDON, Oct 21 (Reuters) - European information provider
Relx upgraded its full-year outlook for underlying
profit, earnings and revenue growth on Thursday, driven by
demand for analytics products like fraud prevention and identity
solutions.
The British company previously called Reed Elsevier said in
a nine-month trading update that it expected the group to
perform above historical trends. It had said in July that
underlying growth rates would be "slightly" above trends.
Relx, which outperformed the FTSE 100 index for 10 years
after transforming from an advertising-supported media group to
the more stable world of data and analytics, posted annual
revenue growth of around 4% in recent years, prior to the
pandemic.
It said on Thursday that underlying revenue growth in the
first nine months of 2021 hit 6%, helped by a 10% revenue jump
at 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. The two divisions, its biggest out
of four, are expected to post revenue growth above historical
trends.
The group also said that Exhibitions, which has been badly
hit by the pandemic, is gradually reopening and it expects
strong growth, with costs now broadly matching revenue.
(Reporting by Kate Holton; editing by Guy Faulconbridge and
Sarah Young)
