(Alliance News) - Information and analytics firm RELX PLC on Thursday posted a first half profit hike, raised its payout and predicted full year growth will be "slightly above historic trends".
The London-based firm's pretax profit rose 24% to GBP825 million in the six months ended June 30 from GBP666 million a year earlier.
Revenue for the first half dropped by 3.0%, however, to GBP3.39 billion from GBP3.50 billion in 2020. Revenue rose 4% at constant currency, however.
RELX noted that its constant currency growth rate was due to 90% growth in electronic revenues.
RELX proposed an interim dividend of 14.3 pence, rising 5.1% from 13.6 pence last year. It confirmed that its long-term dividend policy remains unchanged.
Looking forward, the FTSE 100 firm anticipates - based on improved performance in its Risk, STM and Legal units in the recent half - full year growth will be "slightly above historical trends".
"We believe that this improvement is a reflection of our continuing strategy of focusing on the organic development of increasingly sophisticated analytics and decision tools that deliver enhanced value to our customers across market segments," said Chief Executive Erik Engstrom.
"Recent acquisitions, which have supplemented our organic growth strategy, have continued to perform well."
RELX expanded its portfolio in the first half of the year through five "small" acquisitions, totalling GBP46 million.
Shares were up 3.0% at 2,095.00 pence each in London on Thursday.
By Josie O'Brien; josieobrien@alliancenews.com
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