Experian posts 'strong' first-half numbers

16th Nov 2022 07:21

(Sharecast News) - Experian reported a jump in first-half revenues on Wednesday, supported by the launch of new products.

The information services firm, which provides credit checks for both individuals and businesses, said ongoing revenues rose by 7% in the six months to 30 September, to $3.23bn, or by 9% on a constant currency basis, while total benchmark earnings before interest and tax jumped 8% to $873m.

The blue chip said the "strong" first-half performance had been driven by "new products, new business wins and consumer expansion", with revenue growth across all regions. Free consumer members in its three largest markets - North America, Latin America and the UK and Ireland - jumped 19% year-on-year, to 145m.

Looking to the full year, Experian acknowledged that economic conditions were likely to be "tougher" alongside strong third-quarter comparables.

But it left full-year guidance unchanged, for organic revenue growth of between 7% and 9%, total revenue growth of between 8% and 10% and "modest" margin accretion.

Brian Cassin, chief executive, said: "With many households and businesses facing a difficult period of rising costs in the coming months, we will continue to push ahead with our mission to help millions of people improve their financial health and save money."