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UPDATE 1-Experian boosted by strong growth in Latin America
January 16, 2013 / 8:06 AM / 5 years ago

UPDATE 1-Experian boosted by strong growth in Latin America

* Third quarter organic revenue up 7 percent

* Sees high-single digit FY organic revenue growth

* Shares rise 0.3 pct

LONDON, Jan 16 (Reuters) - British credit information firm Experian on Wednesday reported a 7 percent rise in revenue growth excluding acquisitions for the third quarter of its fiscal year, benefiting from strong growth in Latin America.

Experian, best known for running consumer credit checks for banks, landlords and retailers, also said it expected “high single digit” organic revenue growth for the full year, with growth in the whole second half similar to the third quarter.

“We delivered widespread growth demonstrating the breadth of our portfolio and continued successful execution of our growth strategy, helping us to withstand ongoing pressures in the global economy,” Chief Executive Don Robert said in a statement.

The company reiterated its guidance for modest margin improvement for the full year.

Revenue excluding acquisitions rose by 11 percent in Latin America, where the company saw strong growth in Colombia and Peru, driven by demand for credit monitoring products.

Shares in Experian were up 0.3 percent at 1,040 pence in early trading on Wednesday, valuing the business at 10.5 billion pounds.

The company said last November it would invest $110 million in a restructuring programme aimed at reducing costs and increasing its focus on key markets.

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