RELX 2021 Profit, Revenue Rose; Declares GBP500 Million Share Buyback

By Joe Hoppe

RELX PLC on Thursday posted a higher pretax profit and revenue for 2021 and declared a 500 million-pound ($676.8 million) share buyback program.

The information-and-analytics group made a pretax profit of GBP1.80 billion for the year, up from GBP1.48 billion a year earlier.

Adjusted pretax profit--one of the company's preferred metrics--rose 15% on a constant-currency basis to GBP2.08 billion, benefiting from lower adjusted net-interest expenses.

Revenue increased to GBP7.24 billion from GBP7.11 billion, driven by electronic revenue growth.

The board declared a dividend of 49.8 pence a share, up from 47 pence a year prior, and the company intends to make up to GBP500 million of share buybacks in 2022.

RELX said it expects full-year underlying growth rates in revenue and adjusted operating profit, as well as constant currency growth in adjusted earnings per share, to remain above historical trends.

"RELX delivered strong underlying revenue and profit growth in 2021. We believe that this improved growth trajectory is a reflection of our ongoing strategy of focusing on the organic development of increasingly sophisticated analytics and decision tools that deliver enhanced value to our customers across market segments," Chief Executive Officer Erik Engstrom said.

Write to Joe Hoppe at [e-mail]

(END) Dow Jones Newswires

February 10, 2022 02:31 ET (07:31 GMT)

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