RELX 2022 Pretax Profit Rose But Failed to Meet Consensus

By Anthony O. Goriainoff

RELX PLC said Thursday that 2022 pretax profit rose due to higher adjusted pretax profit but failed to meet consensus, and that momentum remained strong across the group.

The London-listed information-and-analytics group made a pretax profit of 2.11 billion pounds ($2.54 billion) for the year, compared with GBP1.8 billion for 2021, and consensus of GBP2.31 billion, taken from FactSet and based on eight analysts' forecasts.

Adjusted pretax profit--one of the company's preferred metrics--rose on a constant-currency basis was GBP2.48 billion compared with GBP2.08 billion the year before.

Revenue rose to GBP8.55 billion from GBP7.24 billion in the year prior. Revenue consensus for the year was GBP8.45 billion, also taken from FactSet and based on 14 analysts' estimates.

The board declared a dividend of 54.6 pence a share, up from 49.8 pence a year prior.

The company said it intends to deploy a total of GBP800 million in share buybacks in 2023

RELX said it expects revenue and adjusted operating profit underlying growth rates to remain above historical trends and drive strong growth in adjusted earnings per share on a constant currency basis in 2023.

"The improving long-term growth trajectory is being driven by the ongoing shift in our business mix towards higher growth analytics and decision tools that deliver enhanced value to our customers across market segments," Chief Executive Officer Erik Engstrom said.

Write to Anthony O. Goriainoff at [e-mail]

(END) Dow Jones Newswires

February 16, 2023 02:41 ET (07:41 GMT)

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