RELX Says Q1 Trends Consistent With Last Year; Full-year Outlook Unchanged

(RTTNews) - Professional information company RELX Group (REL.L, RUK, ENL), which is in the process of changing its name from Reed Elsevier Plc., Wednesday said business trends in the first quarter remained consistent with last year across the group, and reaffirmed its outlook for the full year.

In a trading update, the company said its financial position remains strong, and parent company structure simplification and name change are on track to complete on July 1.

In Scientific, Technical & Medical business area, customer environment remains largely unchanged. Key business trends for the business remained positive in the quarter. In primary research, growth in article submissions and usage remained strong across the scientific, technical and medical segments. Overall, the division expects another year of modest underlying revenue growth.

Risk & Business Information business expects underlying revenue growth trends to continue. The fundamental growth drivers of the business remained strong in the quarter, with strong revenue growth across all key segments in the period.

Within the business, the Insurance segment saw continued growth in the U.S. auto and newer adjacent markets, and positive momentum continued in Business Services, Government, Healthcare, and Data Services.

Further, RELX said market conditions continue to limit the scope for underlying revenue growth in the Legal business area. The roll-out of new platform releases and usage continued to progress well.

In the Exhibitions division, underlying revenue growth in the first quarter remained strong in the U.S. and Japan and was modest in Europe. Most other markets remain strong, although slightly below the high levels achieved in recent years. The firm expects current trends to continue, and cycling effects to reduce the overall revenue growth rate by three to four percentage points.

RELX remains confident that, by continuing to execute on its strategy, it will deliver another year of underlying revenue, profit, and earnings growth in 2015.

REL.L rose 0.4 percent in early trade to 1,142 pence.