Experian revenues hit by strong dollar

15th Jan 2016 07:45

(ShareCast News) - The strong dollar weighed on revenue at credit check specialist Experian, although the group reiterated expectations for some growth for the full year.In a trading statement, Experian said total growth in the third quarter to 31 December was 6% at constant exchange rates and organic revenue was also up 6%. At actual exchange rates, total revenue from continuing activities was down 3%.The biggest fall was in the group's Latin American operations where revenue fell 29% at actual exchange rates.Experian said if exchange rates stayed at their current levels, full year earnings before interest and tax would be hit by 11% a further headwind of about 3% for the year ending 31 March 2017."Looking ahead, our guidance for the full year is unchanged. While foreign exchange will be a headwind, at constant currency we expect organic revenue growth in the mid-single digit range, to deliver stable margins and to see further progress in benchmark earnings per share," said Chief Executive Brian Cassin.