LONDON (ShareCast) - (Sharecast News) - Information and analytics company RELX reported continued underlying growth in revenue, operating profit and earnings in its final results on Thursday, with underlying revenue up 4% to a full-year reported total of £7.49bn.
The FTSE 100 company said its underlying adjusted operating profit rose 6% in the 12 months to 31 December, to a total of £2.35bn.

Adjusted earnings per share growth at constant currency was 7%, and in sterling terms was 6%, to 84.7p, while the company's reported operating profit improved to £1.96bn from £1.91bn year-on-year.

Reported earnings per share fell to 71.9p from 81.6p, with the board claiming that the prior year included exceptional non-cash credit relating to US tax reforms.

RELX confirmed full-year dividend growth of 7% at 42.1p, and explained that its return on invested capital was up to 13.2% from 12.9%.

The firm said it remained in a "strong" financial position, with a cash conversion rate of 96%, net debt-to-EBITDA ratio standing at 2.4x including leases and pensions.

On the operational front, RELX completed nine acquisitions for a total consideration of £978m during the year, as well as £700m of share buybacks, while announcing a total of £600m share buybacks for 2019.

"RELX continued its positive development in 2018," said RELX chairman Sir Anthony Habgood.

"Adjusted earnings per share in constant currencies grew +7%, and we have announced a dividend increase of +7%."

Habgood said that in 2018 the company simplified its corporate structure into a single parent company, removing complexity and increasing transparency for shareholders.

"Shares in the single parent company are now listed in London, Amsterdam and New York, and with a full weighting in both the FTSE 100 and AEX indices."

Chief executive officer Erik Engstrom added that in 2018, RELX again achieved its objective to deliver good underlying revenue growth, with underlying adjusted operating profit growth ahead of underlying revenue growth, and adjusted earnings per share growth at constant currencies ahead of underlying profit growth.

"We also had an active year for acquisitions, focusing on targeted data sets, analytics and assets that support our organic growth strategies," Engstrom said.

"Our number one strategic priority remains unchanged: the organic development of increasingly sophisticated information-based analytics and decision tools that deliver enhanced value to our customers.

"Key business trends in the early part of 2019 are consistent with 2018, and we are confident that, by continuing to execute on our strategy, we will deliver another year of underlying revenue, profit, and earnings growth in 2019."

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