RELX H1 Profit Up 20%; Hikes Dividend - Quick Facts

(RTTNews) - RELX Group (REL.L), a professional information company, reported that its reported net profit for the six months ended 30 June 2016 rose 20 percent to 558 million pounds from 464 million pounds last year. Earnings per share rose to 26.9 pence from 21.0 pence last year.

Adjusted net profit for the half year was 705 million pounds or 34.0 pence per share, compared to 638 million pounds or 30.1 pence per share in the year-ago period.

Revenue for the period rose 10 percent to 3.26 billion pounds from 2.96 billion pounds last year. On an underlying basis, revenue rose 4 percent.

RELX Group announced an interim dividend increase of 39 percent to 10.25 pence for RELX PLC and 6 percent to 0.122 euros for RELX NV.

The company noted that the larger than usual difference in growth rates between the two dividends reflects movement in the pound/Euro exchange rate since July 2015, and the elimination of the 10 percent UK tax credit gross up earlier this year. The company added that its total full year dividend policy is unchanged.

RELX Group Chief Executive Officer Erik Engstrom said, "As we enter the second half of 2016, key trends across our business are unchanged, and we are confident that, by continuing to execute on our strategy, we will deliver another year of underlying revenue, profit, and earnings growth in 2016."