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Home Headlines Experian sees annual revenue growth on steady demand

Experian sees annual revenue growth on steady demand

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2023 05 17T062029Z 1 LYNXMPEJ4G075 RTROPTP 4 EXPERIAN RESULTS

Experian sees annual revenue growth on steady demand

(Reuters) – British credit data firm Experian Plc said on Wednesday it expects its annual organic revenue to grow between 4% and 6% on the back of steady demand from businesses and consumers.

Analysts were expecting the company to forecast a revenue growth of around 5.8%, according to company-compiled estimates.

Experian has benefited as Britain’s lenders seek more data on the finances of potential and existing customers amid still-high inflation.

The company’s key customers include banks, non-traditional lenders and insurance providers, which use its credit reports and scores to analyse and make decisions around credit risk, fraud prevention and lending terms.

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For the year ended March 31, Experian’s profit before tax fell 19% to $1.17 billion on organic revenue growth of 7% to $6.59 billion.

 

(Reporting by Eva Mathews in Bengaluru; Editing by Subhranshu Sahu)

 

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