17th Jan 2019 08:16
LONDON (Alliance News) - Experian PLC on Thursday retained its full year guidance and said that it delivered "strong" revenue growth in the third quarter.
The FTSE 100-listed consumer credit checker reported year-on-year total revenue growth of 5% in the three month period to December 31, or 9% at constant exchange rates. Year-on-year organic revenue growth at constant exchanges rates stood at 9% in the quarter.
Experian's organic revenue was driven by 13% increase in its Decisioning unit and 10% increase in Consumer Services business. All four of Experian's core businesses - Decisioning, Consumer Services, Data and Business-to-Business - reported organic revenue growth.
Geographically, the company's year-on-year total revenue growth in the period was driven by its North America business which saw 12% growth, with revenue in Latin America and UK & Ireland decreasing 11% and 1%, respectively. The growth is the US was attributed to strong core credit volumes, trended data and new product introductions.
Experian's EMEA and Asia Pacific business reported revenue growth of 4% in the quarter.
"Our performance reflects the success of our strategy to deliver innovative products at scale across our geographies and to build direct relationships with consumers, and our full-year guidance is unchanged," said Chief Executive Brian Cassin.
In its 2017 financial year, Experian reported pretax profit of USD994 million on revenue of USD4.66 billion.
Experian is expected to announce its full year results for the year ending March 31 on May 15. The consumer credit agency has guided for a 5% foreign exchange impact to its benchmark adjusted earnings growth rates.
Shares in Experian were trading 1.6% higher at 1,904.50 pence each on Thursday morning.
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