6th Nov 2014 07:52
LONDON (Alliance News) - Information services company Experian PLC Thursday reported a rise in first-half pretax profit, citing strength in North America Credit Services, a return to growth in Brazil and a good all-round performance in the UK.
In a statement, Experian, which provides services such as helping to manage credit risk and prevent fraud, said it made a USD534 million pretax profit in the six months ended September 30, compared with USD480 million in the corresponding period last year.
The group increased its first interim dividend by 7% to 12.25 US cents per share, citing strong cash performance.
"Our cash performance was particularly strong which has allowed us to reduce debt ahead of schedule and we are pleased to announce an increase in our first interim dividend of 7%," Chief Executive Brian Cassin said in a statement.
However, Cassin said he sees near-term organic revenue growth as subdued, improving as the group exits the year.
"For the year, we expect to maintain margins (at constant currency), to deliver further good progress in benchmark earnings (at constant currency), and we now expect to exceed 95% cash flow conversion," Cassin said.
Experian's first-half benchmark pretax profit rose to USD590 million from USD573 million in the corresponding period last year. Benchmark pretax profit excludes items considered exceptional and amortisation and impairment of acquisition intangibles.
By Samuel Agini; [email protected]; @samuelagini
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