Company’s pretax profit and revenue for 2023 show positive growth
- RELX plans GBP1.0 billion worth of share buybacks
- Pretax profit for 2023 rose to GBP2.3 billion
- Adjusted pretax profit was GBP2.72 billion
- Revenue rose 7% to GBP9.16 billion
- Dividend increased to 58.8 pence per share
- Confident in leveraging AI and technology for future growth
RELX PLC, the FTSE 100-listed information-and-analytics group, has announced plans for GBP1.0 billion worth of share buybacks following a rise in pretax profit and revenue for 2023. The company reported a pretax profit of GBP2.3 billion, up from GBP2.11 billion the previous year, and an adjusted pretax profit of GBP2.72 billion. Revenue also saw a 7% increase to GBP9.16 billion, driven by a shift towards higher growth information. RELX’s board has declared a dividend of 58.8 pence per share, reflecting an 8% increase from the previous year. CEO Erik Engstrom expressed confidence in the company’s ability to leverage artificial intelligence and other technologies for future growth. The share buybacks are a reflection of RELX’s strong financial position and cash flow, with GBP150 million already completed this year.
Public Companies: RELX PLC (RELX)
Private Companies:
Key People: Erik Engstrom (Chief Executive Officer)
Factuality Level: 8
Justification: The article provides specific financial figures and statements from the company’s CEO, which can be fact-checked. However, it lacks additional context or analysis, making it somewhat limited in terms of providing a comprehensive understanding of the company’s performance.
Noise Level: 7
Justification: The article provides financial information about RELX, including its pretax profit, revenue, and share buybacks. However, it lacks analysis or insights into the long-term trends or consequences of these financial decisions. It also does not provide evidence or data to support its claims about leveraging artificial intelligence and other technologies. Overall, the article contains relevant information but lacks depth and critical analysis.
Financial Relevance: Yes
Financial Markets Impacted: RELX
Presence of Extreme Event: No
Nature of Extreme Event: No
Impact Rating of the Extreme Event: No
Justification: The article pertains to financial topics as it discusses the financial performance of RELX, a FTSE 100-listed information-and-analytics group. The company plans GBP1.0 billion worth of share buybacks after reporting increased pretax profit and revenue for 2023. There is no mention of an extreme event in the article.
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