Relx PLC

DUS:RDEB

Strong first half: The group reported 7% underlying revenue growth, 9% underlying adjusted operating profit growth, and 11% adjusted EPS growth at constant currency, with all four business areas performing well.

Margins improved: Adjusted operating margin rose 70 basis points to 35.5%, helped by cost growth staying below revenue growth and by mix shifting toward higher-value analytics and decision tools.

Capital returns: The interim dividend was raised 7% to 20.9p per share, and the company completed GBP 1.75 billion of buybacks in the first half.

Legal and STM stepped up: Legal revenue growth accelerated to 10% and STM to 6%, both supported by AI-enabled tools, new products, and strong new sales.

AI remains central: Management said AI is speeding product development and customer adoption, but emphasized the company’s focus on trusted content, secure workflows, and adding tools on top of existing platforms rather than competing directly with workflow software vendors.

Outlook intact: Management expects another year of strong underlying revenue and profit growth, with continued margin expansion over time and no change to capital allocation priorities.