London, 15th February: Last week, RELX Group (formerly Reed Elsevier) released its financial results for the year ended 31st December 2017. Total revenues were £7.4 billion (US$9.9 billion), representing an underlying increase of 4%. Adjusted operating profit increased by 6% to £2.3 billion (US$3.1 billion).
Its exhibitions business generated revenues of £1.1 billion (US$1.5 billion), representing underlying revenue growth of 6%. Adjusted operating profit increased moderately by 2% reaching £285 million (US$385 million).
According to the company, growth in Japan and China were particularly strong, while Europe remained steady. Most other key markets continued to grow reasonably well, except in Brazil, which was affected by the general weakness of its economy. During the year, the company stated it had launched 36 new events.
Chief Executive Officer, Erik Engstrom, commented on the results, “We achieved good underlying revenue growth in 2017, and continued to generate underlying operating profit growth ahead of revenue growth. Key business trends in the early part of 2018 are consistent with 2017. Our strategy is unchanged: Our number one priority remains the organic development of increasingly sophisticated information-based analytics and decision tools that deliver enhanced value to our customers. We believe that the systematic evolution of our business has driven an improvement in our business profile and the quality of our earnings, with more predictable revenues, a higher growth profile, and improving returns.”
Source: RELX Group press release