RELX PLC (RELX) Q2 2026 Earnings Call Transcript

Good morning, everybody. Thank you for taking the time to join us today. As you may have seen from our press release this morning, we delivered strong financial results in the first half, we made further operational and strategic progress, and we continue to see positive momentum across the group. Underlying revenue growth was 7%. Underlying adjusted operating profit growth was 9%, and adjusted earnings per share growth was 11% at constant currency. All 4 business areas continue to perform well. On this chart, you can see the relative sizes of the business areas and their growth rates. Risk with continued strong growth, STM with a step-up to strong growth, Legal with a further step-up in growth, and Exhibitions with continued strong ongoing growth. In Risk, underlying revenue growth was 8% and underlying adjusted operating profit growth was 10%. Strong growth continues to be driven across segments by our deeply embedded AI-enabled analytics and decision tools, leveraging our unique contributory and proprietary data sets with over 90% of revenue coming from machine-to-machine interactions. In Business Services, which represents over 40% of divisional revenue. Strong growth continues to be driven by Financial Crime Compliance and digital Fraud & Identity solutions and strong new sales. We continue to expand our extensive differentiated