15 July 2015
Experian, the global information services company, today issues an Interim Management Statement that includes an update on trading for the first three months to 30 June 2010.
Commenting on the performance of Experian, Don Robert, Chief Executive Officer, said:
“I am pleased to announce that Experian delivered good growth during the first quarter, with improved performance across all our geographies. At constant exchange rates, total revenue growth was 7%, with organic revenue growth of 6%.
“Experian is benefiting from strong execution across the globe, even though recovery in the US and the UK financial markets remains very gradual. For the first half, we are targeting mid single-digit organic revenue and EBIT growth (from continuing activities at constant currency).”
| Continuing activities only1 | Total growth % At actual exchange rates2 | Total growth % At constant exchange rates | Organic growth % At constant exchange rates |
|---|---|---|---|
| North America | 5 | 5 | 5 |
| Latin America | 43 | 22 | 22 |
| UK and Ireland | (4) | (1) | (1) |
| EMEA/Asia Pacific | 9 | 10 | 2 |
| Experian | 9 | 7 | 6 |
|
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In the three months to 30 June 2010, total revenue from continuing activities at Experian increased by 7% at constant exchange rates. Group organic revenue growth was 6% year-on-year. By principal activity, organic revenue increased 11% at Interactive, 9% at Marketing Services and 4% at Credit Services. Organic revenue declined 3% at Decision Analytics.
Both total and organic revenue from continuing activities in North America increased 5%.
Organic revenue at Credit Services declined 3%. There were strong performances across automotive, business information and healthcare payments, reflecting new product introductions and data enhancements. While consumer information revenue declined, this was against a relatively strong prior year mortgage comparable and, in underlying terms, conditions across the financial services sector improved slightly. Organic revenue declined 8% at Decision Analytics. Growth in analytics and fraud prevention was offset by ongoing softness in demand for large software projects. At Marketing Services, organic revenue increased 11%, with good performances across all major segments. Organic revenue growth at Interactive was 11%. There was growth across lead generation and PriceGrabber, while Consumer Direct revenue was broadly flat, as anticipated. This reflected the ongoing brand migration to the new primary website, freecreditscore.com, which is proceeding to plan, and improved retention resulting from continued enhancements of the user experience.
Both total and organic revenue from continuing activities in Latin America increased 22%.
Organic revenue growth at Credit Services was exceptionally strong, up 22%, helped by a significant uplift in authentication revenue. There were continued strong performances across both consumer information and business information. Meanwhile, Marketing Services benefited from new product introductions, with organic revenue growth of 77% year-on-year.
At constant exchange rates, total revenue in UK and Ireland declined 1%. Organic revenue also declined 1%.
Organic revenue at Credit Services declined 6%. While the financial services segment remains weak, there were good performances across the government, telecommunications and utility verticals. At Decision Analytics, organic revenue declined 6%, due largely to continued softness in transaction volumes. At Marketing Services, organic revenue grew 2%, benefiting from some improvement in underlying market conditions. As expected, there was moderation in the rate of growth at Interactive as the business increases in scale. Organic revenue was up 13%.
At constant exchange rates, total revenue for EMEA/Asia Pacific increased 10%. Organic revenue increased 2%. The acquisition contribution related principally to United MailSolutions in Germany (acquired October 2009) and A-Care Systems in Japan (acquired December 2009).
At Credit Services, organic revenue declined 4%, reflecting modest decline against a weak economic backdrop in established markets. There was good growth at Decision Analytics, where organic revenue rose 5%, with very strong performances across emerging Europe and Asia Pacific. At Marketing Services, organic revenue growth was 9%, largely reflecting growth across Asia Pacific.
Other than as disclosed in this Interim Management Statement, there has been no change since 31 March 2010 to Experian’s general financial position, which remains strong, and no material change to Experian’s trading position to the date of this statement.
Experian will hold its AGM on 21 July 2010 and will announce its half-yearly results on 17 November 2010.
| Experian | ||
| Paul Brooks | Chief Financial Officer | +44 (0)20 3042 4215 |
| Nadia Ridout-Jamieson | Director of Investor Relations | |
| James Russell | Public Relations Director | |
| Finsbury | ||
| Rollo Head | +44 (0)20 7251 3801 | |
| Don Hunter | ||
This announcement is available on the Experian website, www.experianplc.com. There will be a conference call today to discuss this update at 9.00am (UK time), which will be broadcast live on the website with a recording available later.
All financial information is based on unaudited management accounts. Certain statements made in this Interim Management Statement are forward-looking statements. Such statements are based on current expectations and are subject to a number of risks and uncertainties that could cause actual events or results to differ materially from any expected future events or results referred to in these forward-looking statements.