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Thursday 20 September 2018

Experian on track to meet targets after revenue boost

The credit checking company experienced a spike in new customers after the data breach at Equifax last year.

Experian experienced an increase in customer numbers after a data breach at a rival firm (Tony Marshall/PA)
Experian experienced an increase in customer numbers after a data breach at a rival firm (Tony Marshall/PA)

By Helen Cahill, Press Association City Reporter

Credit checking group Experian has reported an increase in sales for its first quarter, saying it is on track to meet its target for the year.

The firm reported a 9% rise in its total revenue for the three months ended June 30 at actual exchange rates.

In the UK and Ireland, revenues were up 11%, and in North America, revenues rose 13%.

Revenues fell by 7% in Latin America at actual exchange rates, and rose by 4% at constant currency.

Experian said its growth in Brazil had been hit by weaker economic activity, and recent strike action.

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Experian chief executive Brian Cassin. (Experian/PA)

Chief executive Brian Cassin said: “We have started the year well, in line with our expectations, with first-quarter total revenue growth of 10% at constant exchange rates, up 9% at actual rates and organic revenue growth of 8%.

“Our performance continues to reflect a range of new product introductions across a number of areas, and for the year ahead, at constant currency, our guidance is unchanged.”

Last year, Experian gained customers following a data breach at rival Equifax.

Almost 700,000 UK consumers had personal information accessed in the cyber attack at Equifax, including partial credit card details, phone numbers, and driver’s licence numbers.

Experian said it had experienced a spike in enrolments after the breach.

Press Association

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