British information and events company Relx said it was on track to maintain its 2023 profit and revenue forecast above historical trends, after reporting revenue growth of 8% last year.
Relx, which provides data and analysis to help companies assess risk, provides services to the medical and legal industries and organizes conferences, said Thursday that adjusted earnings per share will be higher this year.
In the Risk unit, which is its largest division by revenue, the company said growth was helped by demand for financial crime compliance products as well as fraud and digital identity solutions.
Exhibition department revenues also increased as demand for events and exhibitors’ use of Relx digital tools continued to increase post-pandemic.
Relx shares, which were formed from a merger between Reed Business Information and Dutch Elsevier some 30 years ago, are up 26% this year, outperforming the UK blue-chip index which is up 2%. (Reporting by Sarah Young; Editing by Kate Holton)
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