RELX drives broad H1 2026 growth, raises dividend
RELX reported strong first-half 2026 results with revenue of £4.871 billion, up 7% on an underlying basis, driven by broad-based growth across Risk, Scientific & Medical, Legal, and Exhibitions divisions. Adjusted operating profit rose 9% to £1.727 billion, lifting the underlying operating margin to 35.5%, while adjusted earnings per share climbed 11% at constant currency to 68.6p and reported EPS reached 65.7p. The interim dividend increased 7% to 20.9p, reflecting robust cash generation and a net debt/EBITDA ratio of 2.3x, with funding maintained for acquisitions of £103 million and progress on a £2.25 billion share buyback. Management emphasized continued investment in artificial intelligence to enhance products and efficiency and reaffirmed guidance for another year of strong underlying growth in revenue, profit, and earnings per share. The positive results helped mitigate AI disruption concerns, highlighting Lexis+ adoption and AI-enabled tools across divisions as key value drivers. Investor sentiment noted favorable fundamentals despite enduring concerns about technical momentum and leverage, with the stock supported by solid margins and capital returns.
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