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Thursday 17 May 2018

Experian has strong finish to the year

Experian logoGlobal information services provider Experian had a strong Q4 helping it achieve total revenue of $4.7bn in the year ended 31 March 2018. Revenue was up 8% (7% at constant currency) compared to last year (FY17: $4.3bn), with organic revenue growth coming in at 5%. It had a particularly strong Q4 with revenue growth of 12% and organic revenue growth of 8%.

Statutory operating profit fell by 2% to $1.1bn and statutory profit before tax was down 7% to $994m. However, its non-GAAP benchmark EBIT grew by 8% to $1.3bn, with EBIT margins of 27.7%.

Globally its EMEA/Asia Pacific region was the top performer—it was up 11% on a constant currency basis to $393m. North America, which represents 57% of its ongoing activities, was up 8% to $2.6bn, and Latin America improved by 6% to $788m.

Performance in the UK & Ireland (UK&I) was more sluggish as growth in B2B continues to be offset by a decline in Consumer Services. UK&I revenue was up 3% to $830m (FY17: $807m), but flat on an organic constant currency rate. Consumer Services was down 16% in constant currency to $171 (FY17: $202m). Its B2B business improved, with Credit Services leading the way (up 7% to $270m), followed by Decision Analytics (up 6% to $234m) and Marketing Services (up 4% to $155m).

In UK&I, Experian says regulatory changes associated with Open Banking are opening up more opportunities for the business and it is continuing to expand into new markets, such as the price comparison sector, background checking and telecommunications. It expects subscription-based credit monitoring services to continue to contract, but it is seeing greater use of data and analytics in credit comparison services. The acquisition of Clearscore (see Experian acquires Fintech startup Clearscore), which is still subject to regulatory approval, should help improve its Consumer Services business.

Posted by Dale Peters at '10:15' - Tagged: result   FinTech  

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