RELX PLC reported full‑year revenue of £9.59 billion, a 7 % underlying growth from £9.43 billion in 2024. The increase was driven by a 8 % rise in the Risk segment, 5 % in Scientific, Technical & Medical, 9 % in Legal, and 8 % in Exhibitions, reflecting a continued shift toward higher‑margin analytics and decision‑tools businesses.
Adjusted operating profit climbed to £3.34 billion, up 9 % from £3.199 billion a year earlier, and the adjusted operating margin expanded to 34.8 % from 33.9 %. The margin lift was largely a result of the higher mix of high‑margin analytics contracts and disciplined cost control amid modest inflationary pressures.
Adjusted earnings per share reached 128.5 p, up 8.4 p from 120.1 p in 2024, beating consensus estimates. The beat was driven by the combination of revenue growth, margin expansion, and effective cost management, which together offset the impact of higher operating expenses.
Management guided for another year of strong underlying growth in revenue and adjusted operating profit, and for continued growth in adjusted EPS on a constant‑currency basis. The guidance signals confidence in sustaining the company’s momentum and its ability to generate cash to support the expanded buyback program.
The company announced a £2.25 billion share‑buyback program for 2026, an increase from the £1.5 billion program in 2025. The upgrade reflects management’s confidence in future cash generation and its commitment to returning value to shareholders.
Investors responded positively to the results, citing the robust revenue growth, margin expansion, and the upgraded buyback as key drivers of confidence in RELX’s long‑term strategy, while some market participants noted ongoing concerns about rapid AI developments and their potential impact on the company’s competitive landscape.
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