Experian Backs Full-Year View After First-Half Growth

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 [e-mail]

(END) Dow Jones Newswires

November 15, 2023 02:37 ET (07:37 GMT)

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