'Strong revenue and growth' for RELX in first half

In its first-half results for 2023, RELX—parent company of Elsevier and RX, formerly Reed Exhibitions—has revealed half-year revenues of £4,499m, a growth at constant currency of 9% on the same period last year (£3,969m). Adjusted operating profit was up 15% to £1,486m (from £1,239m the previous year). 

The Exhibitions division, which includes the London Book Fair, saw a 36% jump in revenues at constant currency, from £394m last year to £545m, and a profit of £173m, up 189% on last year. Elsevier recorded a 4% revenue rise to £1,476m, with profit up 4% at constant currency to £550m. 

Chief executive officer Erik Engstrom said: “RELX delivered strong revenue and profit growth in the first half of 2023. The improving long-term growth trajectory continues to be driven by the ongoing shift in business mix towards higher growth analytics and decision tools that deliver enhanced value to our customers across market segments.

“By embracing artificial intelligence technologies for well over a decade we have been able to develop and deploy these analytics and decision tools across the company, and we believe that our ability to leverage AI, as it evolves, will continue to be an important driver of our business going forward.”   

“In recognition of our strong cashflow and financial position we have announced an 8% increase in the interim dividend to 17.0p.”