Experian plc (LON:EXPN), the global provider of credit data and other information services has today released an update on trading in the first three months of its financial year.
Experian Outperforms The Market’s Expectations
Commenting on the statement, Steve Clayton, fund manager at HL Select said:
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“Experian has outperformed its own and the market’s expectations in the quarter to end June. Last year, growth was held back by the pandemic and Experian trod water. But with economies reopening stronger than the company had expected, revenue in the quarter has leaped forward by 31%. Even after we strip out some currency gains and a bit of M&A, underlying growth was 22%, driven by the core Credit Bureaux data and increasingly, their Consumer Services offering.
The company are upping their guidance for the rest of the year and now see organic growth coming in at 9-11%, with total revenue growth potentially hitting 15% for the full year to 31 Mar 2022. The business performed strongly in all regions, with underlying growth of 22% in North America, 25% in Latin America and 20% back home in the UK.
Crucially, Experian are also talking profit margins higher, suggesting profit growth for the year could be very strong indeed.
Experian are executing their own agenda really well and they have the tailwind of rapidly recovering economies behind them. They are a data-driven business in an increasingly data-driven world. No surprises then to see the shares reacting positively to the news this morning, up around 3% in early trading.”
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