Reed Reports 2014 Results and Renames to RELX Group

March 10, 2015

London-listed RELX Group (formerly Reed Elsevier) reported its results for the year ended Dec. 31, 2014.

The group’s revenues were £5.8 billion (US$9.0 billion), while excluding for biennial exhibition cycling, revenues were up by 3 percent.  Adjusted operating profit in the period was £1.7 billion (US$2.7 billion), an increase of 5 percent.

The group’s exhibitions business generated revenues of £890 million (US$1.4 billion) were up 3 percent year-on-year.

While excluding for biennial cycling effect, revenues grew 7 percent. Adjusted operating profit in the year rose by 9 percent, amounting to £217 million (US$338 million).

Reed’s management highlighted its operations in the U.S. and Japan recording strong growth, while China saw strong and moderate growth in certain sectors.

In 2014, Reed Exhibitions launched a total of 36 new events.

As part of the announcement, the company renamed itself as RELX Group plc, and simplified its corporate structure.

“We are now extending our efforts to modernise and simplify the company to our corporate structure, our share listings, and our corporate entity names,” said Reed’s CEO Erik Engstrom.

He added, “We are announcing a set of changes that represent a significant simplification without impacting the economic interests of our shareholders.”

Add new comment

Partner Voices
MGM Resorts is committed to fostering an inclusive and diverse culture, not just among employees and guests but also within its supply chain. The company prioritizes procuring goods and services from businesses owned by minorities, women, veterans, people with disabilities, LGBTQ individuals and those facing economic disadvantages. This commitment is integral to MGM Resorts' global procurement strategy.    Through its voluntary supplier diversity program, MGM Resorts actively identifies and connects certified diverse-owned suppliers to opportunities within its supply chain. The company is on track to spend at least 15% of its biddable procurement with diverse-owned businesses by 2025, demonstrating that supplier diversity is not only a social responsibility but also a strategic business imperative.    Supplier diversity isn’t just the right thing to do – it’s good for business. A diverse supply chain allows access to a broader range of perspectives and experience, helping to drive innovation, entrepreneurship and resilience, while strengthening communities. At MGM Resorts, engaging diverse suppliers ensures best-in-class experiences for guests and clients. Supplier diversity ensures a more resilient supply chain while supporting economic development in the communities in which it operates.   The impact of MGM Resorts' supplier diversity initiatives is significant. In 2023, these efforts supported over 3,500 jobs across more than 30 states, contributed over $214 million in income for diverse-owned businesses and generated more than $62 million in tax revenue. The story extends beyond the numbers – it reflects the tangible benefits brought to small and diverse-owned businesses, fostering economic empowerment in their communities.    MGM Resorts also supports the development and business skills of diverse-owned businesses through investment, mentorship and education. Through the MGM Resorts Supplier Diversity Mentorship Program, the company identifies, mentors and develops diverse-owned businesses to fill its future pipeline, while providing businesses with tools and resources to empower and uplift. Since 2017, the program has successfully graduated 105 diverse-owned businesses and is on track to achieve its goal of 150 graduates by 2025.     MGM Resorts’ commitment to supplier diversity not only enhances its business operations but also plays a crucial role in uplifting communities and fostering economic development. This approach reinforces the idea that diversity is a powerful driver of innovation and resilience, benefiting both the company and the wider community.