Neil DennisExperian, the Dublin-based credit information services company, said it had a good start to the year and that it expected full-year organic revenue growth to be in the mid-single digit range with stable margins.
The company said it had seen strong growth in business-to-business sales and in consumer services and that it would continue its commitment to shareholder returns and disciplined capital allocation.
It raised its interim dividend by 4% to 13.5 US cents a share and said that during the first six months it had returned $397m to shareholders through a share buyback scheme.
Other first-half financial highlights
- Revenue rose 5% to $2.19bn in the first half
- Benchmark earnings before interest and tax (EBIT) rose 5% to $581m
- Benchmark profit before tax rose 4% to $541m
- Benchmark earnings per share rose 6% to 43 US cents a share
- Benchmark EBIT margin of 26.5%, in line with prior year at actual rates (down 10 basis points at constant currency rates)
- Four bolt-on acquisitions completed
Brian Cassin, chief executive of Experian: courtesy of Experian corporate websiteCEO comment
Brian Cassin, chief executive, said: "We have started the year well and are on course to deliver stronger organic revenue growth as we move through the year.
"We are now consistently delivering strong growth in our B2B activities and anticipate a further moderation in the decline of Consumer Services as new product launches take root.
"The benefits of investments in our technology transformation, our One Experian approach and exciting new product innovations are visible in our results and we are laying foundations for strengthening performance as we move forward.
"Looking ahead, we continue to expect good levels of growth for the year, with organic revenue growth in the mid-single digit range and stable margins as we invest in our operations and growth initiatives. We also continue to expect further progress in Benchmark earnings per share."
Market reaction
Investors were disappointed with forecast revenue growth in the mid single digits, however, and the shares fell 1.06% in opening trade on the London Stock Exchange to £15.91.