(Alliance News) - Experian PLC on Thursday reported slowing revenue growth in its financial first quarter, as business in all regions except in the Americas shrank.
"Overall performance was affected by weak macroeconomic conditions in some markets," Experian explained. In May, the firm had said it expects full year growth of 7% to 9% as it monitors global macroeconomic trends.
Total revenue for the quarter that ended June 30 is set to have grown 7%, slowing from 31% a year ago.
Revenue for UK & Ireland fell by 6%, in contrast to revenue growth of 35% a year ago. Europe, Middle East, Africa & Asia Pacific revenue decreased by 8%, swung from growth of 78% a year ago.
The Dublin-based credit checking company's total revenue growth was kept above zero due to continued growth in the Americas. Latin America revenue grew by 30%, slowing only slightly from growth of 33% a year before, while North America grew 8%, slowing more substantially from growth of 26% a year ago.
"We grew strongly in the first quarter, in line with our expectations, underpinned by our portfolio diversity and growth initiatives," said Chief Executive Officer Brian Cassin.
"Our expectations for the full year are unchanged. We expect organic revenue growth in the range of 7% to 9%, total revenue growth in the range of 8% to 10% and modest margin accretion, all at constant exchange rates," he added.
"We continue to execute on our strategy to concentrate on strategic markets where we can drive scale while also enhancing operating efficiency," the firm said.
Experian shares were 3.4% higher at 2,658.00 pence each in London on Thursday afternoon.
By Tom Budszus; tombudszus@alliancenews.com
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Experian (EXPN)
