Experian Share Discussion Threads

[williebiz] 16/4/2008 07:41

Whilst organic growth of 2% is obviously not the 8% of a year ago, the performance is satisfactory to good. EXPN way oversold, profits aren't collapsing but still growing (revenues up by 21%) and I'm pleasantly reassured.

I note the UK banks started their uptrend 17 March.

EXPN was ahead of the game but should be back up to first target 450p in weeks not months.

[williebiz] 16/4/2008 07:33

RNS Number:4279S
Experian Group Limited
16 April 2008



Experian Group Limited

Trading update, second half


Experian, the global information services company, today issues an update on
trading for the six months to 31 March 2008.

Commenting on the performance of Experian, Don Robert, Chief Executive Officer,
said:

"Experian's strong portfolio of businesses enabled the group to deliver a good
second-half performance, despite continuing marketplace challenges in the US and
the UK. Total revenue growth was 21% for the second half, with organic revenue
growth of 2%. For the full year we expect double-digit EBIT growth, unchanged
from our previous expectations.

"Looking ahead, we expect good performances in new geographies and across many
business lines. Although we do not plan on short-term improvement in the US and
UK financial services environment, and are facing strong comparables in the
first quarter, our cost efficiency programme is on track and we remain confident
about the outlook."


Experian Group

% change in revenue year-on-year for the six months to 31 March 2008
--------------------------------------------------------------------------------
Continuing activities Total growth Total growth Organic growth
only(1) % % %
At actual At constant At constant
exchange rates(2) exchange rates exchange rates
--------------------------------------------------------------------------------
North America 2 2 1
Latin America > 100(3) > 100(3) 40
UK and Ireland 12 7 1
EMEA/Asia Pacific 26 12 6
--------------------------------------------------------------------------------
Experian 21 15 2
--------------------------------------------------------------------------------
(1) Continuing activities exclude the contributions of MetaReward, UK account
processing and Loyalty Solutions
(2) Experian is reporting in US dollars
(3) Latin America total growth at actual exchange rates for the six months ended
31 March 2008 was 7,306% and total growth at constant exchange rates was
6,119%


In the six months to 31 March 2008, revenue from continuing activities at
Experian increased by 15% at constant exchange rates. Group organic revenue
growth was 2% (Q3 2%, Q4 1%). There was good organic revenue growth at Decision
Analytics and Interactive, both up 7%. There were modest organic revenue
declines in Credit Services and Marketing Services of 1% each. Acquisitions
contributed 13% to revenue growth. Net debt at the end of the period was $2.7bn.

North America
Revenue in North America for the six months ended 31 March 2008 increased by 2%
in total. Organic growth was 1%, with Hitwise (acquired in June 2007)
contributing the balance.

Market conditions in US financial services continued to be challenging,
particularly in mortgage and pre-screen. Growth in automotive and business
information helped mitigate weakness in consumer information, resulting in a
decline in organic revenue of 3% at Credit Services. Decision Analytics
performed well against a very strong comparable, delivering 3% organic growth
and reflecting a number of new business wins in the telecommunications and
energy sectors. Marketing Services continued to benefit from the mix shift to
new media with 3% organic revenue growth, while at Interactive organic revenue
growth was 3%, with continued strength in Consumer Direct and PriceGrabber
offsetting further weakness at LowerMyBills.

Latin America
Revenue for Latin America in the six-month period to 31 March 2008 was $221m
(prior year $3m), including contributions from Serasa (acquired in June 2007)
and Informarketing (acquired in April 2007). Organic revenue growth was 40%,
reflecting the performance of Decision Analytics only.

Serasa performed well during the period, in line with the buy plan, reflecting
the strong market environment for credit in Brazil. The integration of Serasa
has now been completed.

UK and Ireland
Revenue from continuing activities for the six months ended 31 March 2008
increased by 7% at constant exchange rates. Organic revenue rose 1%, with the
acquisitions of Tallyman (acquired in May 2007), Hitwise, The pH Group (acquired
in July 2007) and N4 Solutions (acquired in July 2007) contributing the balance.

While the environment for UK financial services continues to be uncertain,
strength in business information helped mitigate weakness in consumer
information and as a result Credit Services' organic revenue declined modestly
by 1%. At Decision Analytics organic revenue rose 1%, with some improvement in
pipeline conversion, offsetting weak application processing activity. Marketing
Services continues to be affected by lower levels of spend by financial services
clients, with organic revenue down 7% in the half. Interactive performed very
strongly, as higher volumes of new CreditExpert members contributed to a near
doubling of revenues.

EMEA/Asia Pacific
At constant exchange rates, revenue in EMEA/Asia Pacific increased by 12% in the
six-month period to 31 March 2008. Organic revenue growth was 6%, with
acquisitions, mainly Emailing Solution (acquired in May 2007), Tallyman and
Hitwise, contributing the balance.

Organic revenue growth was 1% at Credit Services in the half. Decision Analytics
performed strongly, with organic revenue growth of 24%, reflecting good
performances in both Europe and Asia Pacific. Marketing Services again performed
well, particularly across Asia Pacific, with organic growth up 10%.

Future announcements

Experian will issue its full year results announcement on 21 May 2008.


Enquiries

Experian
Paul Brooks Chief Financial Officer [phone]
Nadia Ridout-Jamieson Director of Investor Relations

Finsbury
Rollo Head [phone]
Don Hunter



This announcement is available on the Experian website, www.experiangroup.com.
There will be two conference calls today to discuss this update, at 9.00am and
at 3.00pm (UK time). Both will be broadcast live on the website with a recording
available later.

All financial information is based on unaudited management accounts. Certain
statements made in this trading update are forward-looking statements. Such
statements are based on current expectations and are subject to a number of
risks and uncertainties that could cause actual events or results to differ
materially from any expected future events or results referred to in these
forward-looking statements.

[hotfinance14] 16/4/2008 07:01

GBG had a good trading ststement this week so Experian should have impressive results this morning.

[mzj71852] 15/4/2008 18:25

16 April 2008
Trading update, second half

thats why it came down, tomorrow is the big day

[fillipe] 15/4/2008 16:03

Nice uptick today, but I can't figure out why it fell back quite so much and quite so quickly?

[critch16] 11/4/2008 19:21

I doubled up before close so I'm back to short.

thamestrader - I would like to see a close below 350p to clarify, can sill bounce from these levels as we seen this afternon, but agree with you.

[thamestrader] 11/4/2008 14:29

If there was goiung to be any support, it was going to be at 360p, IMHO.
EXPN is already well into new territory.

[critch16] 11/4/2008 12:42

If this closes below 350p there aint no support on the chart.

I halfed my short yesterday but remain solidly short.

[luci] 11/4/2008 10:31

Galvin issued a note to customers yesterday suggesting they short this stock, think they may be a little premature...

[thefatcontroller0] 11/4/2008 10:16

robwoodt - your should watch the trading update on the 16th April first

[robwoodt] 10/4/2008 11:20

Target 364.75p to get out before ya :-P

Target 370p

[sllab101] 10/4/2008 11:08

f me,same as that.

[follow me2] 10/4/2008 11:03

I bought them as well at 354p, target 365p in few days.

[robwoodt] 10/4/2008 10:23

I'm im at 354p, for a hopeful nice rise up to results.

[noon] 09/4/2008 15:49

Back at 365p in ISA, 4-5p enough.

[thefatcontroller0] 09/4/2008 15:09

I used to compete against Experian and understand their business fairly well. Other than credit they do Marketing Services - i.e outsourcing of marketing and providing enhancement data/intelligence.

This is not a good place to be as their main customers are in Financial Services. They are cutting back on this type of spending and Marketing Service providers are making lay offs. This is a fact.

The recent move up was based around the false positivity around the credit crunch (US reducing rates etc) coming to an end.

The only thing that will make this move positively upwards is more fund buying or the disposal of price grabber/increase in dividend type scenario or the end to the credit crunch.

[williebiz] 09/4/2008 14:21

Way oversold; got the interim statement coming up; last corporate briefing was extremely well received by investors and put 20% on the SP, I guess key points will be reiterated.

Plus EXPN throws off cash like no other FTSE100 company and this always goes down well when it gets brought to attention.

Plus re-read the corporate briefing and you'll remember that whereas the share price has been beaten down because people are equating housing mkt/credit problems with EXPN problems, credit checks for mortgages & credit is only a small part of what they do.

[critch16] 09/4/2008 13:55

Based on what information williebiz?

[williebiz] 09/4/2008 13:33

High risk strategy, could easily be 450p again in a couple of weeks

[critch16] 09/4/2008 12:04

I have doubled up my short at 371, been away this morning, rise unfounded in my view.

[don muang] 09/4/2008 11:58

>Stay Short...............Ouch.........

Well, it might encourage a few 'shorters' to close positions (i.e. buy EXPN) - which'll also nicely assist share price ...

[robwoodt] 09/4/2008 11:42

n1ckcfm2000 - 8 Apr'08 - 14:32 - 738 of 744
Stay Short...............Ouch.........

[noon] 09/4/2008 11:17

I AM happy to take +9p profit

buy back if it drops.

[williebiz] 09/4/2008 11:11

Could we see a sustained rally up to the interim statement? Hope so ;-)

[don muang] 09/4/2008 10:03

Thanks for the link ..... interesting read..