LONDON (ShareCast) - (Sharecast News) - Information and analytics company RELX Group reported continued underlying growth in revenue, operating profit and earnings in the first half on Thursday, with underlying revenue rising 4% to £3.65bn or €4.16bn.
The FTSE 100 firm, formerly known as Reed Elsevier, said its underlying adjusted operating profit was ahead 6% to £1.15bn or €1.31bn, while its adjusted earnings per share at constant currency rose 7%.

In sterling, earnings per share were up 3% to 41.1p, and in euro they advanced 1% to 46.9 cents.

Reported operating profits climbed to £969m from £942m at the same time last year - or €1.11bn, rising from €1.09bn.

Reported earnings per share rose to 34.1p from 33.6p, or down to 38.9 euro cents from 39.0 cents.

RELX lifted the interim dividend 6% higher to 12.4p for the Plc and to 14 euro cents for RELX NV.

The board said it was in a "strong" financial position, with its net debt-to-EBITDA ratio standing at 2.5x including leases and pensions.

RELX completed £500m of share buybacks in the first half, with a further £200m to be deployed in the second.

The board also commented on the simplification of its corporate structure, with the current dual parent company structure to be simplified into a single parent company, effective 8 September.

It said shareholder approvals had been received for RELX plc and RELX NV, with over 99.9% of votes cast in favour.

The single parent would be listed in London, Amsterdam and New York, and would have full weighting in the FTSE 100 index from 10 September, with full weighting on the AEX index expected by year-end.

"RELX Group continued its positive development in the first half of 2018," said chairman Sir Anthony Habgood.

"This will be the last time that we will announce two separate dividends, as the measures to remove complexity and increase the transparency of our corporate structure that we announced in February 2018 were approved by RELX PLC and RELX NV shareholders in June, and will become effective in September."

Chief executive officer Erik Engstrom added that the company achieved "good" underlying revenue growth in the first half of 2018, and continued to generate underlying operating profit growth ahead of revenue growth.

"We continued to make good progress on our strategic objectives," Engstrom explained.

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

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

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