British business information group RELX anticipates continued robust growth in 2025 following a 10% increase in profit last year. The company's AI products, particularly in the legal and medical fields, are gaining momentum.
Shares in RELX, a competitor of Thomson Reuters, have surged by 23% in the past year and reached a record high, with a 0.6% increase to 4,148 pence in early trading.
Chief Financial Officer Nick Luff attributed the growth to the rising adoption of AI products by professionals in the legal, banking, and medical sectors. He highlighted the increasing demand for the 'Lexus+AI' product, noting the benefits for lawyers, who are experiencing enhanced efficiency and productivity by using the tool to summarize and identify relevant cases intuitively.
Luff expressed confidence in the newly launched personalized version of Lexus+AI in the United States, expecting it to further drive sales. Similar positive trends were observed for RELX's Scopus AI product for researchers and ClinicalKey AI for healthcare practitioners.
RELX, known for its consistent performance on the FTSE 100 index in terms of profit growth, revenue increase, and shareholder returns, recently announced a 1.5 billion pound ($1.87 billion) share buyback.
In 2024, the group achieved an adjusted operating profit of 3.20 billion pounds on revenue of 9.43 billion pounds, representing a 7% underlying growth. Looking ahead to 2025, RELX foresees another year of strong revenue and profit growth, maintaining its forecast from the previous year.