Experian Backs Full-Year View After First-Half Growth
November 15 2023 - 2:52AM
Dow Jones News
By Elena Vardon
Experian backed its guidance for fiscal 2024 as it posted an
on-year rise in pretax profit for the first half driven by growth
across all of its regions.
The credit-reporting agency reported pretax profit for the six
months ended Sept. 30 of $763 million compared with $517 million
for the same period the previous year.
Total revenue was $3.42 billion, up from $3.25 billion, it said
Wednesday. This represents total revenue growth at constant
exchange rates of 5%, in line with its expectations, while organic
revenue growth was also 5% for the half-year.
"We grew in every region and across both B2B and Consumer
Services," Chief Executive Brian Cassin said.
Its North America business--which makes up two-thirds of total
revenue--had organic revenue growth of 4% at constant exchange
rates, it said. Experian posted 1% growth for the U.K. and Ireland,
and 8% for EMEA and Asia Pacific. Latin America--which brings in
15% of revenue--grew 11%, it added.
The London-listed company confirmed its organic revenue growth
target of between 4% and 6% at constant exchange rates and modest
margin accretion. Consensus compiled by the company estimates 5.3%
growth for the period.
It declared an interim dividend of 18.0 cents per share, up from
the previous year's 17.0 cent payout.
Write to Elena Vardon at elena.vardon@wsj.com
(END) Dow Jones Newswires
November 15, 2023 02:37 ET (07:37 GMT)
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