RELX 1st Half Profit Declines; Backs Full-Year Guidance
July 26 2018 - 3:08AM
Dow Jones News
By Adria Calatayud
RELX PLC (REL.LN) said Thursday that first-half net profit
declined 0.6% due to lower revenue and that it backed its guidance
for the full year.
The company behind medical journal the Lancet and the London
Book Fair said it plans to buy back shares worth 200 million pounds
($263.3 million) in the second half of 2018, after purchasing
GBP500 million in shares in the first half.
Net profit for the first six months of 2018 was GBP678 million
compared with GBP682 million in the year-earlier period, the
company said. Underlying operating profit rose 6% in the first
half, the company said.
RELX generated revenue of GBP3.65 billion in the first half,
down 1.4% from GBP3.72 billion a year earlier, it said.
The board raised its interim dividend by 6% to 12.4 pence a RELX
PLC share and 14 European cents for each RELX NV share.
The company said it continued to expect underlying growth in
revenue and adjusted operating profit, together with adjusted
earning-per-share growth at constant currency. Key business trends
remain unchanged, RELX said.
Earlier this year, the company unveiled plans to unify its dual
holding structure into a single company. The simplification is
expected to be effective Sept. 8, the company said.
Write to Adria Calatayud at
adria.calatayudvaello@dowjones.com
(END) Dow Jones Newswires
July 26, 2018 02:53 ET (06:53 GMT)
Copyright (c) 2018 Dow Jones & Company, Inc.
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