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RENX - Relx NV News Story

$21.19 -0.6  -2.7%

Last Trade - 07/09/18

Sector
Industrials
Size
Micro Cap
Market Cap £n/a
Enterprise Value £n/a
Revenue £7.29bn
Position in Universe th / 6857

UPDATE 1-RELX Plc hikes full-year dividend, raises buyback target

Thu 25th February, 2016 8:41am
(Adds details, outlook) 
    Feb 25 (Reuters) - RELX Plc  REL.L , Europe's largest media 
group, said it raised its dividend for 2015 and enhanced its 
share buyback target for this year. 
    The company, formerly known as Reed Elsevier, said it would 
buy back 700 million pounds ($974.4 million) worth of shares in 
2016, a 40 percent increase from last year. 
    The largest publisher of scientific journals said trends in 
the earlier part of this year were consistent with last year 
across its business, and that it was confident of posting growth 
in underlying revenue and profit. 
    The print industry has seen profit going downhill since its 
peak in 2005, when digital media lured regular news consumers 
away from subscribing to newspapers, and took them to websites 
and social media. 
    RELX has been able to buck the trend as it brought down its 
reliance on print products revenue to about 15 percent of its 
total annual revenue in 2015 from about 50 percent in 2007. 
    CEO Erik Engstrom sees further growth for the company coming 
mainly from its Risk unit. The company currently provides 
information and data analytic solutions to scientists, lawyers, 
doctors and the business community. 
    RELX reported a 3.4 percent rise in underlying revenue for 
the year, while adjusted pretax profit for the group rose about 
5 percent.  urn:newsml:reuters.com:*:nRSY0830Qa 
    Underlying revenue for the year was 5.97 billion pounds, 
just below analysts' average expectation of 6.04 billion pounds, 
according to Thomson Reuters I/B/E/S. 
    Continued cost control, a strategy that the company has been 
relying on for the last four years, helped it beat analyst 
estimates for adjusted pretax profit. RELX posted an adjusted 
pretax profit of 1.67 billion pounds compared with analysts' 
average estimate of 1.61 billion pounds. 
     
 ($1 = 0.7184 pounds) 
 
 (Reporting by Vidya L Nathan in Bengaluru; Editing by Sunil 
Nair and Gopakumar Warrier) 
 ((vidya.loganathan@thomsonreuters.com;; within U.S. +1 646 223 
8780; outside U.S. +91 80 6749 6137;; Reuters Messaging: 
vidya.loganathan.thomsonreuters.com@reuters.net)) 
 
Keywords: RELX RESULTS/
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