Experian Says It Was Resilient in 1Q; Total Revenue Fell 1%

By Anthony O. Goriainoff

Experian PLC said Thursday that it was resilient in the first quarter of fiscal 2021 amid the coronavirus pandemic, and that due to the level of uncertainty stemming from the virus it wasn't providing guidance for the fiscal year.

The company said it expects acquisitions to add around 2% to revenue growth for the rest of the fiscal year, and that it sees organic revenue for the year ending March 31, 2021, in the range of flat to 5%.

The London-listed consumer-credit reporting agency said total revenue fell 1% at constant exchange rates for the three months ended June 30. On an organic basis, revenue fell 2%, and 5% at actual exchange rates due to the weakness of the Brazilian real against the U.S. dollar.

In the U.K. and Ireland total and organic revenue at constant exchange rates fell 15%. The company said peak volume declines were witnessed in April, and that there was some recovery off the lows in May and June as some lenders resumed their activity once the lockdown started to ease.

The company said North America performed exceptionally well with total and organic revenue increasing by 4% and a very strong performance in consumer services.

EMEA and Asia Pacific posted a 15% fall in total revenue at constant exchange rates during the quarter, while organic revenue fell by 20%.

"If recent foreign-exchange rates persist, we expect a headwind to benchmark earnings before interest and taxes for the year ending March 31, 2021 of 4%," the company said.

Write to Anthony O. Goriainoff at [e-mail]

(END) Dow Jones Newswires

July 16, 2020 02:46 ET (06:46 GMT)

Copyright (c) 2020 Dow Jones & Company, Inc.