Experian 'on track' for full year profit

Credit information firm Experian said it was on track for a "good" full-year profit after revenues edged higher in the second…

Credit information firm Experian said it was on track for a "good" full-year profit after revenues edged higher in the second half, helped by strong sales in Latin America.

Revenues at Experian, best known for running consumer credit checks for banks, rose 3 percent at constant exchange rates in the six months to March 31st, the company said.

"We expect to deliver good profit and cash outcomes," Experian chief executive Don Roberts said in a statement today.

However, sales in the UK and Ireland fell 2 per cent, it said.

This is in comparison to a 17 per cent rise at the group's Latin American operation. Experian also unveiled a return to growth at its key North American unit, where sales rose 2 per cent.

Experian met market expectations in January with a modest one percent rise in third quarter revenue, but said at the time it expected to improve on that in the following three months as its North American business recovers.

Including the impact of currency fluctuations, Experian's total revenue for the second half climbed 10 per cent.

Experian shares were down 0.55 per cent at 632 pence by 0719 GMT, valuing the company at about £6.5 billion.

The company reports full-year results on May 19th.

Reuters