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RELX expects strong year despite continued Covid-19 impact on exhibitions
StockMarketWire.com
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Global information-based analytics and decision tools provider, RELX, has said it expects its three largest business areas, STM, Risk and Legal, to deliver another year of underlying revenue and adjusted operating profit growth in 2021, similar to pre-Covid-19 trends.
The three business areas together accounted for 95% of revenue in 2020 and, according to the company, have started this year well.
Electronic revenue, which represents around 85% of the divisional total, has also continued to grow well. Print revenues have stabilised following the Covid-19 related disruption in the first half of 2020, while rends in the customer environment continue to vary somewhat by segment.
In Primary Research, RELX has continued to see strong growth in article submissions. Open access revenues are continuing to grow very strongly across geographies.
Transactional revenue, which represents around 60% of the divisional total, has seen good growth rates at the start of the year stepping up further from mid-March as RELX began to lap last years Covid-19 related disruption.
Subscription revenue, which represents around 40% of the divisional total, has remained resilient overall, albeit with some impact from delays in customer product implementations last year.
In Business Services, demand for fraud prevention and identity products continues to grow strongly, with the digital identity segment growing particularly well. Insurance market activity is now showing strong growth against the disrupted comparative period of the prior year. End customer markets for Data Services show varying dynamics, while Government continues to grow strongly.
Exhibitions continues to be significantly impacted by Covid-19. So far this year the company has held 56 physical events, primarily in Japan and China, with one held in the US in March. Government restrictions have prevented most events from taking place in Europe and the Americas, and have constrained the scale of many events elsewhere.
RELX has continued to develop and launch a range of new digital initiatives in support of our customers and event brands.
The evolving Covid-19 pandemic will continue to impact the ability to hold physical events, making the outlook for the year in this business area uncertain.
Story provided by StockMarketWire.com
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