17th Nov 2020 08:56
(Alliance News) - Experian PLC on Tuesday described its first-half of trading as "resilient", after total revenue slipped slightly, but grew at both a constant currency and organic basis.
In the six months ended September 30, the credit checking company posted revenue of USD2.49 billion, inching 0.3% lower year-on-year from USD2.50 billion.
Experian's pretax profit dropped 4.6% to USD458 million from USD480 million.
On a constant currency basis, revenue was 5% higher year-on-year and organically, it climbed 2%, amid a 2% first-quarter fall and a 5% second-quarter surge.
Chief Executive Officer Brian Cassin labelled it a "resilient performance" against tough market conditions and noted that the second quarter organic growth was at the top end of guidance.
"The drivers of growth stemmed largely from North America and Brazil which offset Covid-19 related declines in other territories."
The "stand out" however, the CEO noted, was in its Consumer Services arm, which now has 96 million free memberships, climbing by 26 million year-on-year.
Experian declared a first-half payout of 14.5 cents, unchanged annually.
Looking ahead, the company expects third-quarter organic revenue to rise between 3% and 5% year-on-year. The FTSE 100 firm decided against providing annual guidance however, due to Covid-19.
"Once the crisis abates, we believe we will be strongly positioned to take advantage of the secular growth trends and we are excited by the opportunities we see ahead." Cassin added.
Experian shares were 1.2% higher at 3,032.00 pence each in London on Tuesday morning.
By Eric Cunha; [email protected]
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