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Experian PLC on Thursday said revenue grew during the first quarter as it maintained its full-year forecasts. The Dublin-based consumer credit checker said first-quarter revenue at constant currency increased by 5% compared with a year ago, with a 14% rise in Latin American revenue and an 8% rise in the Europe, the Middle East & Africa/Asia Pacific region. The firm said it saw 10% business-to-business growth in Brazil during the period, where it is expanding its list of clients and entering new opportunities, and noted that its customer services sector saw revenue grow by 26%. Meanwhile, North America saw revenue rise by 4% at constant currency and the UK & Ireland saw 1% growth. In North America, the firm said it saw positive contributions from its Clarity and buy-now-pay-later clients, as well as from Experian Ascend, offsetting weaker volumes in mortgages and consumer credit origination. In the UK & Ireland, the company said that all of its business-to-business units grew, in spite of weaker volumes in lending, while consumer services saw a decline in revenue due to ‘ impact of supply contraction in our credit marketplace’ and lower revenue from premium subscriptions. Chief Executive Brian Cassin said: ‘We delivered good growth in Q1, in line with our expectations. Total revenue growth at actual exchange rates was 5% and also at constant exchange rates. Organic revenue growth was 5%. ‘Our growth expectations for the full year are unchanged reflecting the strength and diversity of our business. We continue to expect organic revenue growth of between 4-6% and modest margin accretion, all at constant exchange rates and on an ongoing basis.’ Experian shares rose 0.5% to 2,932.00 pence each on Thursday morning in London. Copyright 2023 Alliance News Ltd. All Rights Reserved.
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