LONDON (ShareCast) - (Sharecast News) - Experian's constant currency revenue fell 1% in the first quarter as growth in North America helped offset sharp falls in the UK and other markets but the credit-check company said the outlook was too uncertain to give guidance.
Revenue excluding currency movements in North America rose 4% in the three months to the end of June and was flat in Latin America. Revenue in the UK and Ireland and other markets fell 15%.

Group revenue at actual exchange rates fell 5% and organic revenue fell 2% at constant exchange rates in what the company said was a "resilient" performance.

In North America, which makes up 63% of Experian's business, consumer services revenue rose 10% on strong demand for credit education and identity monitoring subscription services. In Latin America revenue fell 26% at actual exchange rates because of the plunging Brazilian real.

Revenue in the UK and Ireland was hit by tighter credit policies and reduced lending by business clients and reduced consumer demand. The near shutdown of the car market and lower spending by advertisers on data also affected results. Business volumes started to recover in May and June.

The FTSE 100 company said it expected organic revenue for the second quarter to be flat or to fall as much as 5% with no change to cost assumptions but it gave no more detail.

Brian Cassin, Experian's chief executive, said: "While the Covid-19 health crisis continues to weigh on people and economies everywhere, Experian has been very resilient. There continues to be a range of outcomes and a level of uncertainty around the extent or re-imposition of lockdowns, government action to support economies and the shape of economic recovery. We therefore do not intend to provide guidance for the year ending 31 March 2021."

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