8th Sep 2020 09:09
(Alliance News) - Credit checker Experian PLC on Tuesday raised its second-quarter guidance after stronger trading in July and August.
The FTSE 100-listed company now expects organic revenue growth for the quarter to September 30 in a range of 3% to 5%. Growth had previously been guided to a range of flat to down 5%, with first half growth to be broadly flat.
The quarterly guidance lift was attributed to further strength in the company's US mortgage business, which is anticipated to contribute three percentage points to growth.
With "continued investment in our innovation agenda", Experian now expects organic growth in costs of between 2% and 3% for the first half, having been previously guided to being held broadly flat.
Experian is slated to release its results for the first half ending September 30 on November 17.
Shares in the company were up 3.7% at 2,903.00 pence each in London on Tuesday morning. The stock has gained 14% in value since the start of 2020.
By Tapan Panchal; [email protected]
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