RELX FY20 Profit Down 19%; Proposes 3% Increase In Full Year Dividend – Quick Facts

RELX Plc (REL.L), a provider of information-based analytics and decision tools, reported Thursday that its fiscal 2020 net profit declined 19 percent to 1.22 billion pounds from 1.51 billion pounds last year. Earnings per share decreased 18 percent to 63.5 pence from 77.4 pence last year.

Adjusted net profit was 1.54 billion pounds, compared to 1.81 billion pounds a year ago. Adjusted earnings per share were 80.1 pence, compared to 93.0 pence a year ago.

Adjusted profit before tax was 1.92 billion pounds, down 13 percent from 2.20 billion pounds in the prior year.

Revenue for the year declined 10 percent to 7.11 billion pounds from 7.87 billion pounds last year. Revenue decreased 10 percent at constant rates, and 9 percent on an underlying basis.

Further, the company proposed a full year dividend of 47.0 pence per share, up 3 percent from 45.7 pence last year.

As previously announced, RELX suspended its share buyback program in April 2020 after 150 million pounds was spent in the first four months of the year. The company said its board does not intend to resume the program this year.

Looking ahead to fiscal 2021, RELX said it expects each of its three largest business areas, STM, Risk and Legal, to deliver another year of underlying revenue and adjusted operating profit growth, similar to pre-Covid-19 trends. However, the company added that the timing and pace of recovery in Exhibitions remains uncertain.

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