Q1 Interim Management Stateme

RNS Number : 3899P

Experian plc

15 July 2010

 



news release

Interim Management Statement, first quarter

15 July 2010 ─ Experian, the global information services company, today issues an Interim Management Statement that includes an update on trading for the first three months to 30 June 2010.

Commenting on the performance of Experian, Don Robert, Chief Executive Officer, said:

"I am pleased to announce that Experian delivered good growth during the first quarter, with improved performance across all our geographies. At constant exchange rates, total revenue growth was 7%, with organic revenue growth of 6%.

"Experian is benefiting from strong execution across the globe, even though recovery in the US and the UK financial markets remains very gradual. For the first half, we are targeting mid single-digit organic revenue and EBIT growth (from continuing activities at constant currency)."

Experian plc

% change in revenue year-on-year for the three months to 30 June 2010

Continuing activities only1	Total growth       %	Total growth %	Organic growth %
	At actual exchange rates2	At constant exchange rates	At constant exchange rates
North America	5	5	5
Latin America	43	22	22
UK and Ireland	(4)	(1)	(1)
EMEA/Asia Pacific	9	10	2
Experian	9	7	6

1 Continuing activities exclude some UK hosted database activities, UK mortgage software activities and other smaller discontinuing items

2 Experian reports in US dollars

In the three months to 30 June 2010, total revenue from continuing activities at Experian increased by 7% at constant exchange rates. Group organic revenue growth was 6% year-on-year. By principal activity, organic revenue increased 11% at Interactive, 9% at Marketing Services and 4% at Credit Services. Organic revenue declined 3% at Decision Analytics.

North America

Both total and organic revenue from continuing activities in North America increased 5%.  

Organic revenue at Credit Services declined 3%. There were strong performances across automotive, business information and healthcare payments, reflecting new product introductions and data enhancements. While consumer information revenue declined, this was against a relatively strong prior year mortgage comparable and, in underlying terms, conditions across the financial services sector improved slightly. Organic revenue declined 8% at Decision Analytics. Growth in analytics and fraud prevention was offset by ongoing softness in demand for large software projects. At Marketing Services, organic revenue increased 11%, with good performances across all major segments. Organic revenue growth at Interactive was 11%. There was growth across lead generation and PriceGrabber, while Consumer Direct revenue was broadly flat, as anticipated. This reflected the ongoing brand migration to the new primary website, freecreditscore.com, which is proceeding to plan, and improved retention resulting from continued enhancements of the user experience.

Latin America

Both total and organic revenue from continuing activities in Latin America increased 22%.

Organic revenue growth at Credit Services was exceptionally strong, up 22%, helped by a significant uplift in authentication revenue. There were continued strong performances across both consumer information and business information. Meanwhile, Marketing Services benefited from new product introductions, with organic revenue growth of 77% year-on-year.

UK and Ireland

At constant exchange rates, total revenue in UK and Ireland declined 1%. Organic revenue also declined 1%.

Organic revenue at Credit Services declined 6%. While the financial services segment remains weak, there were good performances across the government, telecommunications and utility verticals. At Decision Analytics, organic revenue declined 6%, due largely to continued softness in transaction volumes. At Marketing Services, organic revenue grew 2%, benefiting from some improvement in underlying market conditions. As expected, there was moderation in the rate of growth at Interactive as the business increases in scale. Organic revenue was up 13%.

EMEA/Asia Pacific

At constant exchange rates, total revenue for EMEA/Asia Pacific increased 10%. Organic revenue increased 2%. The acquisition contribution related principally to United MailSolutions in Germany (acquired October 2009) and A-Care Systems in Japan (acquired December 2009).

At Credit Services, organic revenue declined 4%, reflecting modest decline against a weak economic backdrop in established markets. There was good growth at Decision Analytics, where organic revenue rose 5%, with very strong performances across emerging Europe and Asia Pacific. At Marketing Services, organic revenue growth was 9%, largely reflecting growth across Asia Pacific.

Other than as disclosed in this Interim Management Statement, there has been no change since 31 March 2010 to Experian's general financial position, which remains strong, and no material change to Experian's trading position to the date of this statement.

Future announcements

Experian will hold its AGM on 21 July 2010 and will announce its half-yearly results on 17 November 2010.

Contact:

Experian

Paul Brooks                            Chief Financial Officer                 [phone]

Nadia Ridout-Jamieson          Director of Investor Relations

James Russell                        Public Relations Director

Finsbury

Rollo Head                                                                                    [phone]

Don Hunter

This announcement is available on the Experian website, http://www.experianplc.com. There will be a conference call today to discuss this update at 9.00am (UK time), which will be broadcast live on the website with a recording available later.

All financial information is based on unaudited management accounts. Certain statements made in this Interim Management Statement are forward-looking statements. Such statements are based on current expectations and are subject to a number of risks and uncertainties that could cause actual events or results to differ materially from any expected future events or results referred to in these forward-looking statements.

About Experian
Experian is the leading global information services company, providing data and analytical tools to clients in more than 90 countries. The company helps businesses to manage credit risk, prevent fraud, target marketing offers and automate decision making. Experian also helps individuals to check their credit report and credit score, and protect against identity theft.

Experian plc is listed on the London Stock Exchange (EXPN) and is a constituent of the FTSE 100 index. Total revenue for the year ended 31 March 2010 was $3.9 billion. Experian employs approximately 15,000 people in 40 countries and has its corporate headquarters in Dublin, Ireland, with operational headquarters in Nottingham, UK; Costa Mesa, California; and São Paulo, Brazil. 

For more information, visit http://www.experianplc.com.

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