On July 24, 2025, RELX PLC reported strong financial results for the first half of 2025, with underlying revenue growth of 7% and underlying adjusted operating profit growth of 9%. Adjusted earnings per share increased by 10% at constant currency, demonstrating robust performance across its diverse segments.
The company's adjusted operating margin improved to 34.8%, reflecting disciplined cost management. Cash conversion remained exceptionally strong at 100%, contributing over GBP 1.1 billion in free cash flow for the period, while capital expenditure was maintained at approximately 5% of revenue.
Segmental performance was strong, with Risk delivering 8% underlying revenue growth, Legal improving to 9% underlying revenue growth, and Exhibitions achieving 8% underlying revenue growth. The STM segment saw 5% underlying revenue growth, supported by new product introductions and volume growth in primary research. Additionally, GBP 1 billion of the planned GBP 1.5 billion share buyback program for 2025 was completed in the first half, with an additional GBP 75 million deployed in July, and the interim dividend was increased by 7% to 19.5p per share.
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