Experian lets consumers and businesses check their credit ratings
(Picture: Experian press image)Shares in Experian topped the FTSE 100 leaderboard after the credit checking agency stood by its annual guidance after strong growth in the first quarter of its financial year at its operations in Latin America.
Revenue there grew by 30% in the three months ending on June 30, with free consumer memberships in Brazil reaching 73 million.
The company’s credit scoring services had a tougher time elsewhere, including in its home markets. Revenue in in the UK and Ireland fell 6% at actual exchange rates. It said the marcroeconomic outlook in the UK had “softened”, but that business-to-business operations remained “resilient”, including its consumer credit, business credit and fraud and identity management services.
There was also an 8% decline in its continental European and Asia Pacific operations.
Revenues in North America, which make up the bulk of the company’s income, rose 8% helped by it business-to-business customers investing in digital platforms.
Total revenue rose 7% at actual exchange rates, in line with its targeted range of 7% to 9% revenue growth for the year. The company’s shares rose 3.5% to 2660p in Thursday afternoon trade in London, the single best gain on the FTSE 100.
Experian employs 20,000 people in 44 countries and says it sees itself as the “Consumer’s Bureau”, using its data and resources to help people improve their financial wellbeing by helping open access to “fair and affordable credit”. It also helps businesses to prevent identity fraud.
