Experian 1st Half Pretax Profit Fell Amid Higher Costs; Backs Fiscal Year 2023 Views

By Michael Susin

Experian PLC on Wednesday reported a fall in pretax profit for the first half of fiscal 2022 and reiterated its full-year guidance despite expecting the economic backdrop to be tougher over the year.

The consumer-credit reporting agency posted a pretax profit of $517 million for the six months ended Sept. 30 compared with $654 million for the same period a year earlier. The fall was in part driven by a $152 million goodwill impairment, it said.

Benchmark earnings before interest and taxes came in at $873 million from $806 million, it said.

Revenue increased to $3.25 billion from $3.06 billion for the year-prior period. This compares with a forecast of $3.27 billion taken from FactSet and based on two analysts' estimations.

Experian backed its fiscal 2023 views, with a revenue-growth target in the range of 8% to 10%, while organic revenue growth is expected to be in the range of 7% to 9%.

The board declared an interim dividend of 17 cents, up from 16 cents a year ago.

Write to Michael Susin at [e-mail]

(END) Dow Jones Newswires

November 16, 2022 02:30 ET (07:30 GMT)

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