RELX Group FY17 Profit Up 43%; To Simplify Corporate Structure - Quick Facts

(RTTNews) - RELX Group (REL.L), a professional information company, reported that its net profit for the year ended December 31, 2017 grew 43 percent to 1.66 billion pounds from 1.16 billion pounds last year. Earnings per share rose to 82.2 pence from 56.3 pence last year.

Adjusted net profit for the year was 1.64 billion pounds or 81.0 pence, compared to 1.49 billion pounds or 72.2 pence in the prior year.

Revenue for the period rose 7 percent to 7.36 billion pounds from 6.90 billion pounds last year. On an underlying basis, revenue rose 4 percent.

RELX Group has proposed a full year dividend increase of 10 percent to 39.4 pence for RELX PLC and 6 percent to 0.448 euros for RELX NV.

Looking ahead to fiscal 2018, RELX Group noted that key business trends in the early part of 2018 are consistent with 2017. The company said it is confident that, by continuing to execute on its strategy, it will deliver another year of underlying growth in revenue and in adjusted operating profit, together with growth in adjusted earnings per share on a constant currency basis.

Further, RELX Group said it is proposing to implement a further simplification of its corporate structure, moving from the current dual parent holding company structure to a single parent company.

The company noted that there will be no changes to the locations, activities or staffing levels of RELX Group or its four business areas. Elsevier, the global Science, Technical & Medical business, will continue to be headquartered in Amsterdam. RELX Group headquarters will remain in London, with no changes to operations or staffing levels.

The simplification will be implemented through a cross-border merger between RELX PLC and RELX NV. RELX NV shareholders will receive one new RELX PLC share in exchange for each RELX NV share held.

RELX PLC will continue to have a premium listing on the London Stock Exchange. The company will apply for an additional listing of RELX PLC shares on Euronext Amsterdam. Existing RELX PLC ADRs will continue to be listed on the New York Stock Exchange.

The simplification is subject to certain conditions, including the approval of both RELX PLC and RELX NV shareholders. The company expects a circular and a prospectus to be made available to shareholders in the second quarter of 2018, with implementation of the simplification expected in the third quarter of 2018.