Experian lifts full-year guidance

(Sharecast News) - Credit-checking firm Experian lifted its full-year guidance on Thursday as it reported a jump in first-quarter revenues, with all regions and segments delivering growth.
In the three months to 30 June, total revenue grew 31% on the year. Revenue was up 78% in EMEA/Asia Pacific, 35% in the UK & Ireland, 33% in Latin America and 26% in North America.

Chief executive officer Brian Cassin said: "We delivered a strong performance in Q1 through a combination of successful delivery of our innovation-led strategy and faster than expected recovery as economies emerge from the Covid-19 pandemic.

"We now expect total revenue growth for the full year in the range of 13-15%, of which we expect organic revenue growth of 9-11%, and continue to expect strong EBIT margin accretion, all at constant currency."

Previously, the company had guided to FY revenue growth of 11% to 13% and organic growth of 7% to 9%.

At 0820 BST, the shares were up 3.9% at 3,093p.

Steve Clayton, fund manager at HL Select, said: "Crucially, Experian are also talking profit margins higher, suggesting profit growth for the year could be very strong indeed.

"Experian are executing their own agenda really well and they have the tailwind of rapidly recovering economies behind them. They are a data-driven business in an increasingly data-driven world. No surprises then to see the shares reacting positively to the news this morning, up around 3% in early trading."