Experian posts 'strong' first-half numbers

(Sharecast News) - Experian reported a jump in first-half revenues on Wednesday, supported by the launch of new products.

The information services firm, which provides credit checks for both individuals and businesses, said ongoing revenues rose by 7% in the six months to 30 September, to $3.23bn, or by 9% on a constant currency basis, while total benchmark earnings before interest and tax jumped 8% to $873m.

The blue chip said the "strong" first-half performance had been driven by "new products, new business wins and consumer expansion", with revenue growth across all regions. Free consumer members in its three largest markets - North America, Latin America and the UK and Ireland - jumped 19% year-on-year, to 145m.

Looking to the full year, Experian acknowledged that economic conditions were likely to be "tougher" alongside strong third-quarter comparables.

But it left full-year guidance unchanged, for organic revenue growth of between 7% and 9%, total revenue growth of between 8% and 10% and "modest" margin accretion.

Brian Cassin, chief executive, said: "With many households and businesses facing a difficult period of rising costs in the coming months, we will continue to push ahead with our mission to help millions of people improve their financial health and save money."

Experian