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Experian on track to grow profits as Q3 reveals increased group revenues

Last updated: 09:25 15 Jan 2010 GMT, First published: 10:25 15 Jan 2010 GMT

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In trading update, information services group Experian (LSE: EXPN) said it performed in line with expectations during the three months to 31 December 2009, reporting total constant currency revenue growth of 2% reflecting 1% organic growth. According to the FTSE100 constituent it is on track to grow profits for the year as a whole and it is delivering strong free cash flows.

"Experian delivered growth in line with our expectations during the third quarter”, Experian chief executive Don Robert said, "Looking ahead across our major businesses, we see further stabilisation in parts of North America, we are still cautious on the UK, while the outlook for Latin America is robust.”

In the third quarter, Experian’s operating subsidiaries had a mixed performance, with the company’s consumer credit related products performing the strongest. The company’s Interactive business, which allows private individuals to access and manage the personal credit records, achieved an 8% increase in organic revenues. Similarly the group’s Credit Services business had an improving performance also with 2% organic growth. The subsidiary provides credit checking and risk assessment services to organisations.

Elsewhere Experian’s data management and automation software business, Decision Analytics, recorded a 9% decline in revenues during the period, while the consumer data analysis subsidiary Marketing Services showed a 1% contraction in revenues.

Additionally during the third quarter, Experian acquired United MailSolutions and A-Care Systems and also received approximately US$60m in cash proceeds from certain disposals relating to its American based FARES joint venture.

Going forward the information service group said it expects a modest improvement in organic revenue growth in the fourth quarter.

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