RELX reports 9% underlying growth amid surge for Exhibitions business

RELX, parent company of Elsevier and RX, formerly Reed Exhibitions, has reported underlying revenue growth of 9% in the first nine months of 2022, including a surge for its Exhibitions business.

In a third quarter trading update, which did not break out exact figures, RELX said momentum remained strong across the group. “We continue to expect full year underlying growth rates in revenue and adjusted operating profit, as well as constant currency growth in adjusted earnings per share, to remain above historical trends,” it reported.

The company said Exhibitions, which includes the London Book Fair, saw 85% year-to-date underlying revenue growth. This was “driven by a significant increase in face-to-face activity across most geographies, with digital tools supporting our physical events”.

Elsevier, RELX’s STM division, saw year-to-date underlying revenue growth of 4%. Primary research “continued to grow well”, with the number of articles submitted and published remaining ahead of last year’s levels. “We expect underlying revenue growth to remain above historical trends, with underlying adjusted operating profit growth slightly exceeding underlying revenue growth,” the company said.

In July, RELX reported its half-year revenues were up 13% on the same period in 2021, with adjusted operating profit rising 16%.