RELX Group H1 Profit Declines - Quick Facts

(RTTNews) - RELX Group (REL.L) reported that its first-half net profit decreased 1 percent to 678 million pounds from 682 million pounds in the year-ago period. However, earnings per share rose to 34.1 pence from 33.6 pence last year.

Adjusted profit before tax was 1.054 billion pounds, compared to 1.051 billion pounds last year. Adjusted earnings per share were 41.1 pence, compared to 39.9 pence a year ago.

First-half revenue also declined 1 percent to 3.65 billion pounds from 3.70 billion pounds in the previous year. Underlying revenue growth was 4 percent.

Looking ahead to fiscal 2018, RELX Group said 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.

The company also said it deployed 500 million pounds on share buybacks in the first half of 2018, and intend to deploy a further 200 million pounds in the second half, bringing the full year total to the previously announced 700 million pounds.

Further, RELX Group said that the simplification measures it announced in February 2018 have been approved by RELX PLC and RELX NV shareholders. The company's dual parent company structure will be simplified into a single parent company, effective 8 September 2018.