RX posts increased profits as exhibition venues open up

RX, formerly Reed Exhibitions, has posted an underlying revenue growth of 44 per cent last financial year compared to 2020, as exhibition venues gradually open across the world.

The exhibition company delivered £534 million in revenue for the year ended December 31, 2021, up from £362 million in 2020, resulting in an adjusted operating profit of £10 million.

Parent company RELX reported in its annual statement that “increased activity levels and a lower cost structure” were behind the rise in revenue.

“In 2021, we managed our event schedule flexibly, responding to changes in local government policies, enabling us to hold a total of 269 face‐to‐face events during the year,” the report stated.

“We continued to make good progress on digital initiatives, with a range of digital tools supporting our physical events, and digital revenues growing strongly.”

The company was also bullish about this year saying it expected “a year of strong underlying revenue growth”.