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Relx lifts dividend, sees return to pre-Covid trends

Thu 11 February 2021 08:15 | A A A

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(Sharecast News) - Information business provider Relx lifted its dividend by 3% and signalled a return to pre-Covid trends for its science, risk and legal units but said a recovery in its exhibitions arm remained uncertain.

The company on Thursday said adjusted operating profit fell to £2.07bn against £2.5bn. Underlying revenue fell 9% to £7.1bn.

Exhibitions reported an adjusted loss of £164m compared with a £331m profit as the cancellation of events due to the Covid-19 pandemic took its toll.

Science, risk and legal, which accounted for 95% of revenue in 2020, continued to deliver underlying growth in revenue and adjusted operating profit.

"Earnings per share is currently being impacted by Covid-19 related disruption to our exhibitions business, but we are proposing a 3% increase in the dividend to 47p reflecting our consistent track record and our confidence in the outlook for the company," chairman Anthony Habgood said.

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