(Alliance News) - RELX PLC on Thursday retained its outlook for 2022 as a whole, following a strong performance in the first half, through a mix of organic growth and new acquisitions.
For the six months ended June 30, the London-based professional information and analytics firm posted pretax profit of GBP998 million, up 21% from GBP825 million in the same period a year prior.
This was on revenue which grew 17% year-on-year to GBP3.97 billion from GBP3.39 billion. On a constant currency basis, revenue rose 13%.
RELX's Risk segment increased 13% to make GBP1.39 billion in revenue, as the Business Services unit benefited from continued demand for fraud prevention analytics and precision tools, as well as solid results from TruNarrative and BehavioSec, both acquired in August 2021 and May 2022 respectively.
Meanwhile, the Scientific, Technical & Medical division added 6% in revenue to GBP1.35 billion, with the Primary Research unit being boosted by broader content sets of data, with a larger amount of published articles.
RELX declared an interim dividend of 15.7 pence per share, up 10% from 14.3p a year prior.
Looking ahead, RELX said that momentum has remained strong all across the board in the second half, and it still expects underlying growth rates in annual revenue and adjusted operating profit to remain above historical trends.
"RELX continued to deliver strong revenue and profit growth throughout the first half of 2022. We believe that this is a reflection of our ongoing strategy of focusing on the organic development of increasingly sophisticated analytics and decision tools that deliver enhanced value to our customers across market segments. Recent acquisitions, which have supplemented our organic growth strategy, continue to perform well," said Chief Executive Officer Erik Engstrom.
Shares in RELX were down 1.4% at 2,326.00 pence on Thursday morning in London.
By Dayo Laniyan; dayolaniyan@alliancenews.com
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