Relx announces 5% revenue growth for 2019 prompting dividend increase

Global provider of information-based analytics and decision tools Relx has reported growth in revenue and operating profit for the year to 31 December 2019, and proposed a 9% dividend increase.

In its full-year results, Relx revealed revenue increased 5% to £7.9bn, with underlying growth of 4% reflecting growth in electronic and face-to-face revenues and the development of its analytics and decision tools, partially offset by print revenue declines.

Adjusted operating profit climbed 6% in 2019 to £2.5bn, while reported operating profit was up 7% to £2.1bn and includes the amortisation of acquired intangible assets of £295m and acquisition-related costs of £84m.

Relx completed 14 acquisitions of content, data analytics and exhibition assets for a total consideration of £416m, and disposed of a number of small assets for a total of £63m in 2019.

The company is proposing a full-year dividend of 45.7p.

Relx chair Sir Anthony Habgood said: 'Relx continued to execute well on its strategic priorities in 2019. This was reflected in strong earnings, with adjusted earnings per share growth of 10% in sterling, and 7% at constant currencies, and we have proposed an increase in the dividend of 9%.'

Habgood added: 'We also continued to build on our strong ESG performance during the year, and this was again recognised in the high ratings given to us by a number of external agencies.'

Relx said it deployed £600m on share buybacks in 2019, with plans to deploy a total of £400m in 2020, of which £100m has already been completed.

Relx also announced that after over 10 years as chair, Habgood had decided to retire once his successor has been appointed.

He said: 'The group has a strong board and management team, clarity concerning its strategic direction and is well-positioned for future growth.

'As a result, I believe that this is the year both from my own perspective and from that of the company in which to make a change of chair.'