Information services firm Experian Plc (EXPN.L) Wednesday reported a 7 percent growth in third-quarter revenues at constant exchange rates, boosted mainly by Latin America. Organic revenue growth in the period was also 7 percent.
Looking ahead to the fiscal year, the company expects organic growth to be high single-digit, with a second-half organic growth similar to the third quarter results.
Experian also reiterated its full-year expectations of modest margin improvement and to convert at least 90 percent of EBIT into operating cash.
In an interim management statement, the company said revenue growth for the third quarter ended December 31, at actual exchange rates was 5 percent.
In Latin America, both total revenue and organic revenue growth was 11 percent at constant exchange rates. In North America, total revenue and organic revenue improved 7 percent from last year.
In UK and Ireland, revenues rose 8 percent at constant exchange rates. Revenues were up 6 percent organically. Revenues in EMEA/Asia Pacific grew 2 percent from the preceding year.
Don Robert, chief executive officer said, “We delivered widespread growth demonstrating the breadth of our portfolio and continued successful execution of our growth strategy, helping us to withstand ongoing pressures in the global economy.”
Experian is scheduled to release its full-year results on May 9.
EXPN.L is currently trading at 1,047.10 pence, up 9.10 pence or 0.88 percent, on a volume of 339,799 shares on the LSE.
To receive FREE breaking news email alerts for Experian Group PLC and others in your portfolio
by RTT Staff Writer
For comments and feedback: editorial@rttnews.comBusiness News