LONDON (ShareCast) - (Sharecast News) - Data services specialist and consumer credit ratings firm Experian delivered a solid set of first-half results with all regions contributing positively to growth, as it reiterated its guidance for the full year.
Analysts at Shore Capital said the results were in line with expectations, though the shares were up over 5% at 2,816p in earl deals.

The broker said, after the recent warning from sector peer TransUnion which last month reported weak quarterly figures and cut its full-year outlook, Experian's results "will come as a relief to many, but Experian's performance reflects its broader services portfolio".

Revenues from ongoing activities for the six months to 30 September were $3.41bn, up 6% on last year and 5% higher on an organic basis.

Adjusted earnings before interest and tax were up 6% at $929m, though statutory pre-tax profit surged by 48% to $763m as a result of a goodwill impairment charge the previous year and reduced costs.

"We delivered good growth in H1," said Experian's chief executive Brian Cassin. "We grew in every region and across both B2B and Consumer Services. Our growth is due to the breadth of our portfolio, contributions from new products and ongoing new customer wins."

Latin America delivered 11% growth, North America rose by 4%, both the Europe, the Middle East and Africa (EMEA) and Asia Pacific regions delivered 8% growth, while UK and Ireland increased 1%.

Experian said it continues to expect organic revenue growth in the range of 4% to 6% for the year ending March 2024, along with "modest margin accretion".

The company raised its interim dividend by 6% to 18 cents.

Email this article to a friend

or share it with one of these popular networks:

• DIGG
• FACEBOOK
• STUMBLEUPON
• MIXX
• YAHOO BUZZ
• DELICIOUS
• REDDIT
• NEWSVINE