Relx launches GBP300 million buyback and hails 2025 growth.
Relx PLC on Thursday launched a GBP300 million share buyback programme as it said 2025 has started well across all business areas. The London-based provider of business, scientific and legal information said it will repurchase shares worth GBP300 million in the buyback programme, which starts immediately and will end on June 13.
The new buyback programme follows the completion of a GBP450 million buyback on Wednesday. Both programmes are part of the previously announced GBP1.5 billion that Relx will spend on share buybacks in 2025. Relx also left its full-year outlook unchanged in a trading update for its annual general meeting on Thursday.
“We continue to see positive momentum across the group, and we expect another year of strong underlying growth in revenue and adjusted operating profit, as well as strong growth in adjusted earnings per share on a constant currency basis,” Relx said.
The company said it expects “strong underlying revenue growth” in its Risk division to continue through 2025, with underlying adjusted operating profit growth slightly exceeding underlying revenue growth. Exhibitions revenue continues to increase as the event portfolio grows and the business makes progress on “value-enhancing digital initiatives”.
“Our improving long-term growth trajectory continues to be driven by the ongoing shift in business mix towards higher growth analytics and decision tools that deliver enhanced value to our customers across market segments,” Relx said.
Shares in Relx were up 0.5% to 3,962.00 pence in London on Thursday morning.
Source: Marketscreener
