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RELX takes revenue hit from events business amid global lockdowns
StockMarketWire.com
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Publishing and events company RELX reported a 70% decline in revenue for its exhibitions and events business over the course of 2020 to the end of September.
This part of the business accounted for 16% of revenue and 13% of adjusted operating profit in 2019. It has been severely affected by government restrictions on gatherings amid the COVID-19 pandemic, although some events were now running in China, Japan and other countries, RELX said.
The company's three largest business areas - risk, legal, and STM (scientific, technical and medical) - all reported increased underlying revenue growth for the first nine months of 2020.
For STM and legal, RELX said the outlook for the full year was for "modest" growth, while the risk arm of the business was on track for growth at "slightly over half the rate seen in recent years".
Story provided by StockMarketWire.com
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