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RELX released organic sales growth figures in line with expectations, confirming the strong momentum seen in H1 23. The guidance was reiterated despite the potential macro headwinds.
Companies: RELX PLC
AlphaValue
The markets are cheering the solid results reported by RELX in terms of revenue and profitability growth across all divisions as well as the announcement of an increase in its interim dividend. The guidance was reaffirmed for the year with the performance expected to be above the historical trend.
RELX’s results for FY22 came in above expectations. The continued growth in earnings as well as the EPS, dividend and share buyback program of £800m are being rewarded by investors who are boosting the share price to a new high.
This is our first report on Relx, a well-known provider of information-based analytics and decision tools for professionals as well as businesses. In the first half of 2022, the company generated solid financial results, with revenue growing by 13% at constant exchange rates. Business Services, accounting for around 45% of the division's sales, produced a significant revenue increase. Their digital identification solutions for fraud and identity saw extremely significant growth, with ThreatMetri
Baptista Research
The 9-months 2022 trading statement was in line, confirming organic revenue growth above historical trends for the second year. The group reiterated its FY22e guidance as “momentum remains strong”, which is very reassuring in light of the current macro environment.
RELX reported excellent H1 22 results in light of the current macro environment. The management said that the momentum remains strong entering H2 22 and that it continues to expect the FY22e performance to be above the historical trend.
RELX released a reassuring trading statement ahead of its April 2022 AGM to confirm its FY22e outlook, as all business lines performed well in Q1 22. Not to look a gift horse in the mouth, but perhaps a little more detail about Exhibitions would have been appreciated…
RELX’s FY21 top- and bottom-line trends fall short of expectations, dampening investor sentiment. The better-than-anticipated adjusted EPS and dividend, as well as the long-awaited return of the share buy-back programme, were not enough to support the share price…
RELX shares reached a new all-time high this morning following the publication of the group’s 9-month trading update. Investors welcomed the – long-awaited – bounce back in Exhibitions as well as the improved FY21e guidance.
RELX raised its FY21e guidance on the back of very encouraging H1 21 results. Its three major divisions delivered a sound performance, similar to pre-COVID-19 trends, which offset the continued weakness in Exhibitions.
RELX released a trading statement ahead of its April 2021 AGM to confirm its FY21e outlook as most of the business performed well in Q1 21. The timing and pace of recovery in Exhibitions remains uncertain.
The FY20 results are both satisfactory and in line. More than 4/5ths of the business are continuing to hold up well, with uncertainty remaining on Exhibitions. The FY dividend’s increase by 3% is good news. Positive stance maintained after allowing for negative tweaks on the Exhibitions outlook.
RELX issued a fairly sound 9 month trading statement despite the Exhibitions division remaining highly impacted by the current pandemic. More than 4/5 of the business are continuing to hold up well, which we consider a positive. The FY20e outlook is unchanged for the three largest divisions while Exhibitions continue to suffer. Some downgrade adjustments are expected to our forecasts, mostly due to Exhibitions, but we intend to reiterate a positive recommendation on the stock.
RELX’s H1 20 results are clearly not good, impacted by COVID-19 as expected. Both revenues and adjusted OP were below our estimates and the street’s as Exhibitions were significantly hurt. Positively, all other businesses continued to deliver and are continuing to hold up well. The flat interim dividend, contrary to market fears, was also a positive. Our earnings will be downgraded. High volatility expected going forward for the share price but we remain confident in the group’s long-term strate
RELX just released a trading statement ahead of is 23 April 2020 AGM to inform that it has suspended both its FY20e guidance and share buy-back due to the uncertainties related to COVID-19.
Research Tree provides access to ongoing research coverage, media content and regulatory news on RELX PLC. We currently have 0 research reports from 7 professional analysts.
IP Group’s NAV declined by 13% in total return (TR) terms in FY23, affected by continued soft valuations across venture capital (VC) markets, as well as funding delays at some of its holdings. That said, management indicated that many of IP Group’s portfolio companies continued to make strong progress. Its maturing portfolio offers a number of potential NAV triggers and is now available at a wide 59% discount to NAV. We note that, as at end-2023, only 14% of IP Group’s portfolio was valued based
Companies: IP Group plc
Edison
The focus of Hardman & Co Research is on the nine quoted Infrastructure Investment Companies (IICs) and on the 22 Renewable Energy Infrastructure Funds (REIFs): the stocks analysed are all members of the Association of Investment Companies (AIC). We are updating our publication of January 2023, assessing both the lacklustre share price performances during 2023 and the key issues, including interest rates, inflation and power prices. As a 31-strong group, its combined market capitalisation is no
Companies: AEIT ROOF DGI9 INPP GSF SEIT USFP HICL ORIT BSIF TRIG NESF SEQI HEIT GRP GCP FSFL 3IN AERI PINT RNEW BBGI GSEO DORE TENT GRID CORD HGEN AEET
Hardman & Co
Companies: System1 Group PLC
Canaccord Genuity
Companies: Deltic Energy Plc
Companies: JDW MAB MARS WTB FSTA BOWL CPG SSPG LGRS SSTY OTB HSW TMO GYM MEX
Liberum
Feature article: Steady as she goes, but could be better: A review of investment company liquidity since 2016 Liquidity is the lifeblood of equity markets. The measurement of liquid asset availability to a market or company is a way of gauging a market’s health. This article builds on our previous work, which analysed the liquidity data for non-financial trading companies, by applying the same analytical techniques to the investment companies (IC) space. We analyse liquidity for ICs as a whol
Companies: NBPE ICGT ARBB RECI CLIG HAT AVO VTA APAX
16th April 2024 * A corporate client of Hybridan LLP ** Arranged by type of listing and date of announcement *** Alphabetically arranged **** Potential means Intention to Float (ITF) has been announced Dish of the day Admissions: Delistings: What’s baking in the oven? ** Potential**** Initial Public Offerings: Reverse Takeovers: Electric Guitar (ELEG.L) Concurrent with its Admission to trading on AIM, Electric Guitar is proposing to acquire the entire issued share capital of 3radical Limited for
Companies: IP BILN SAR GATC ASTO PHE SHOE CCS IP CUSN
Hybridan
Braemar’s FY24 trading update was in line with expectations, with revenues of c £150m and underlying operating profit of c £18m. Underlying operations continue to expand and diversify and the company remains well-positioned to drive its future growth strategy. The trading outlook is promising and Braemar should be able to leverage its strong balance sheet in pursuit of strategic growth. We have maintained our underlying estimates for FY24 and FY25, but edge down the valuation based on the lower
Companies: Braemar PLC
Trinity Delta view: The proprietary pre|CISION platform is key to Avacta’s investment case, hence updated data that continue to support key hypotheses for AVA6000 are reassuring. Future efficacy data from studies planned to start in H224 will be key, and could also help to more broadly validate pre|CISION. The recent £31.1m fundraise (March 2024 Lighthouse), which provides a cash runway of c 24 months ie into early 2026, will be used to advance the therapeutics pipeline, in particular AVA6000, a
Companies: Avacta Group PLC
Trinity Delta
hVIVO has delivered FY 2023A results in-line with the 30 January 2024 TU, with total customer revenues of £56m, growth of 16% versus 2022A. Other income related to tax credits added another £2.6m. 2024 revenue guidance of £62m has been reiterated, representing 11% growth over 2023A, and ahead of the £60m that we had previously forecast. The company has good visibility with the 2024 figure, with 90% already being covered by the existing orderbook (stands at £80m at the end of 2023), as well as in
Companies: hVIVO plc
Cavendish
As pre-announced, Avacta has presented the results of the 3-weekly P1 Arm 1 study of its AVA6000 lead clinical asset, based on the pre|CISION™ drug development platform at the American Association for Cancer Research's annual general meeting. The update does not cover progress on the ongoing 2-weekly dosing study which is underway, and Avacta confirmed current guidance on timing including being on track to begin the dose expansion study in 2H24. There are compelling updates on the progress repor
Capital Access Group
Companies: SCE HVO VLG
Companies: EBQ NFG SAA SFOR
Deltic Energy plc (DELT.L) has announced some positive news concerning its 50% interest in the Selene joint-venture with Shell UK Ltd. The announcement concerns a farm-out to Dana Petroleum Ltd of a 25% interest in Licence P2437 which contains the Selene prospect. The farm-out calls for Deltic retaining a highly meaningful 25% interest in one of the most interesting prospects in terms of risk profile and scale in the Southern North Sea (SNS) Basin while largely eliminating exposure to the cost o
Allenby Capital
We reveal the winners of our investment trust ratings for 2024... Our ratings seek to reward closed-ended funds which deliver attractive and persistent performance characteristics in three categories which we think match up to broad goals investors usually have: long-term growth, income and growth, and high current income. This includes strong performance versus a fund’s underlying market, as well as attractive risk characteristics which we think suggests they could continue to be premium optio
Companies: DIG JCGI SCP MUT SOI JEMI MRC AIE JGGI CCJI
Kepler | Trust Intelligence
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