RELX produced satisfactory FY 17 results even if was a bit below consensus, with organic revenue growth positively reaching 4% (i.e. similar to FY16). Consolidated revenues reached £7,355m, up +7% after a total forex impact of +5% reflecting the stronger US$ and Euro against Sterling (only c.7.5% of sales in the UK). The adjusted OP amounted to £2,284m, up 6% organically, i.e. ahead of revenue growth and implying an improving margin at 31.1% from 30.7% in FY16, slightly above our
15 Feb 2018
Solid FY17 and moving to one single parent company
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Solid FY17 and moving to one single parent company
RELX PLC (REL:LON) | 3,298 -1022.2 (-0.9%) | Mkt Cap: 61,902m
- Published:
15 Feb 2018 -
Author:
Véronique Cabioc'h -
Pages:
4
RELX produced satisfactory FY 17 results even if was a bit below consensus, with organic revenue growth positively reaching 4% (i.e. similar to FY16). Consolidated revenues reached £7,355m, up +7% after a total forex impact of +5% reflecting the stronger US$ and Euro against Sterling (only c.7.5% of sales in the UK). The adjusted OP amounted to £2,284m, up 6% organically, i.e. ahead of revenue growth and implying an improving margin at 31.1% from 30.7% in FY16, slightly above our