Experian reports "strong performance" despite pre-tax profits slip
Nottingham-based credit checking company Experian has reported improving trends though pre-tax profit fell to $283m from $316m. Earnings before interest and tax (EBIT) rose 10 per cent to $484m.
In its half-yearly report covering the six months to 30 September 2010, Experian said it had achieved a "strong performance, with improving trends across all regions".
John Peace, chairman, said: "Experian has made excellent progress in the half, creating significant shareholder value through strong financial performance, net share repurchases of $147m and a 29 per cent dividend increase to 9 US cents."
Don Robert, chief executive, said: "We performed strongly in the first half, delivering our best organic revenue growth outcome in four years.
"Trends have improved modestly, with generally more favourable conditions across the majority of our markets. Our strategic priority is to maximise the opportunities we have identified globally. We are executing successfully against our growth programme, as is increasingly visible in our performance.
"For the year as a whole, we expect to deliver similar rates of organic revenue growth to the first half, and we are targeting modest improvement in our EBIT margin."
It said revenue from continuing activities was up 8 per cent at constant exchange rates with organic revenue growth of 7 per cent. Total group revenue was $2.0bn (2009: $1.9bn).
