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Wednesday 15 May 2019

Experian boosted by growth in North America

ExperianDublin based, credit scoring and information services provider, Experian, has published preliminary full year results, underpinned by the company’s performance in North America. Total revenue for the period ending 31st March 2019 was $4.8bn, up 6% on the previous fiscal. Growth was strongest in North America, where full year revenues were up by 10% year on year. Meanwhile Experian’s UK and Ireland revenues increased by 4.3% to $819m. Global pre-tax profits for the year were $957m, up by 0.7%

Experian has made a number of recent investments in technology and innovation and the success of its big data platform, Ascend, has been a contributing factor to strong performance in the US. Meanwhile, in the UK and Ireland, where growth has been slowest, prospects appears to be steadily improving after recent declines at the company’s consumer service operations (see: Experian stabilises UK consumer services).

Experian’s operating margins are good and whilst profit growth was rather modest, the business is enjoying growth across all its major territories. Growth in the UK and Ireland appears to be more challenging than elsewhere and is not helped by obstacles to the company’s inorganic ambitions. Experian’s proposed acquisition of rival, UK credit rating agency, Clearscore (see: Experian to acquire UK FinTech Clearscore) was abandoned earlier this year, in the face of  opposition by the Competition and Markets Authority (CMA). However, the economic climate remains favourable to Experian’s business model and the company is continuing to perform well overall.

Posted by Jon C Davies at '09:47'

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