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Experian PLC on Wednesday reported a rise in interim revenue but suffered a fall in profit due to a goodwill impairment.
For the six months that ended on September 30, the Dublin-based credit checking company said revenue amounted to $3.25 billion, up 6.2% from $3.06 billion the year before.
Exeprian said it delivered good organic revenue growth across our three largest regions, up 8% in North America, 18% in Latin America and 5% in UK and Ireland. Particularly, Consumer Services organic revenue was up 12%, as the firm addresses "new value pools with broader propositions", serving 145 million free members, up 11 million over the past six months.
Pretax profit, however, fell 21% to $517 million from $654 million, as operating profit reduced to $513 million from $702 million a year earlier.
This is predominately due to a non-cash charge of $152 million for goodwill impairment, "driven by increased discount rates and macro-economic weakness in our European markets", Experian explained.
Chief Executive Officer Brian Cassin said: "We delivered another strong performance in H1 driven by new products, new business wins and consumer expansion. While we expect economic conditions to be tougher over the balance of the year, and face some stronger comparable in Q3, our full year expectations are unchanged."
Experian declared an interim dividend of 17.0 US cents per share, up 6.3% from 16.0 cents a year prior.
Looking ahead, the company expects organic revenue growth of between 7% to 9%, total revenue growth of between 8% to 10% and "modest" margin accretion.
Shares were up 0.8% at 2,873.00 pence each on Wednesday morning in London.
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