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Experian hails ‘strong momentum’ as quarterly organic revenue grows 8%

ALN

Experian PLC on Wednesday left its annual guidance unchanged after reporting ‘strong’ third-quarter trading in line with expectations.

‘With continued strong momentum, our full-year expectations are unchanged. We continue to leverage our scaled proprietary data assets, strong technology foundations and deep expertise to deliver on our strategic priorities and crystallise exciting new AI opportunities,’ said Chief Executive Officer Brian Cassin.

The Dublin-based consumer credit checking business said revenue rose 12% at actual exchange rates in the three months to December, 10% at constant currency and 8% organically, which CEO Cassin said were ‘all in line with our expectations’.

Nonetheless, shares in Experian were down 4.7% at 3,077.00 pence each in London on Wednesday morning, the biggest faller in the FTSE 100 index which was down 0.1%.

Organic revenue grew by 10% in North America, by 6% in Latin America, by 3% in the UK & Ireland and by 3% in Europe, Middle East, Africa & Asia Pacific, the company said.

In North America, which represents 68% of group revenue, Experian said the financial services division delivered a ‘strong performance’, Automotive maintained its recent momentum and Health ‘delivered strongly.’ Consumer Services delivered organic revenue growth of 8%, as anticipated.

In Latin America, 14% of group revenue, business to business organic revenue growth was flat, while Consumer Services delivered ‘very strong’ organic revenue growth of 23%.

In the UK & Ireland, 13% of group revenue, B2B organic revenue was flat and organic revenue growth in Consumer Services was 14%.

EMEA & Asia Pacific, 7% of group revenue, saw strong growth across a number of core markets, including Italy, Spain and South East Asia.

Experian expects to release its full results for the 12 months to the end of March on May 20.

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