Experian (LSE:EXPN) PLC kept its expectations for the full year unchanged after growing revenues 7% in the past quarter, despite currency swings hitting the UK and Europe.
For the three months to 30 June, the first quarter of the FTSE 100 consumer credit group’s financial year, it reported revenue growth of 9% at constant exchange rates, with organic revenue growth of 8%.
Boss Brian Cassin said: “Our expectations for the full year are unchanged. We expect organic revenue growth in the range of 7-9%, total revenue growth in the range of 8-10% and modest margin accretion, all at constant exchange rates.”
He said growth in the first quarter was “underpinned by our portfolio diversity and growth initiatives”.
In North America, representing almost two-thirds of group revenue, organic revenue growth was 7%, with growth of 5% in B2B and 13% in Consumer Services.
Particularly good growth was reported in cards and loans, with strength in both demand and supply of credit.
In the UK & Ireland, accounting for 14% of group revenue, revenue was down 6% at actual exchange rates but was 5% at constant currency and organic basis.
While the macroeconomic outlook in the UK has softened, the UK and Ireland B2B grew 6%, while Consumer Services was flat.
For the Europe, Middle East, Africa and Asia Pacific region growth was down 8% at actual exchange rates but up 1% on constant rates.
“Overall performance was affected by weak macroeconomic conditions in some markets.”