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Experian Q1 revenue meets expectations as acquisitions drive growth

StockMarketWire.com

Information services group Experian said Friday first-quarter performance was in line with expectations, supported by recent acquisitions.

The company left its full-year guidance unchanged.

For the three months ended 30 June, total revenue grew 10% at constant currency, from the same period a year ago, and 9% at actual exchange rates.

The in-line performance comes as company grew organic revenue in all regions, led by 11% growth in both North America and EMEA/Asia Pacific.

In North America, organic revenue growth was up 11% as B2B rose 12% and consumer services rose 8%, pushing total revenue growth to 13% supported by the Clarity Services acquisition.

In EMEA and Asia Pacific, total and organic revenue growth was 11% as more clients opted for the company's decisioning software such as PowerCurve.

In the UK and Ireland, organic revenue growth was 3% as B2B rose 7%, but consumer services fell 8%. Total revenue growth was 4%.

In Latin America, meanwhile, total and organic revenue growth was 4%.

The company said it expects the impact of foreign exchange movements to Benchmark EBIT growth rates would be 4%, up from an estimate of 1% in May.

'We have started the year well, in line with our expectations, with Q1 total revenue growth of 10% at constant exchange rates, up 9% at actual rates and organic revenue growth of 8%,' said Brian Cassin, Chief Executive Officer.



Story provided by StockMarketWire.com