Experian posts profit but urges caution

Source: Agencies | May 21, 2009, Thursday |

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BRITISH credit agency Experian PLC said yesterday that full-year profit rose 11 percent, helped by a cost-saving program, but remained cautious about the outlook for the current year.

For the year ending March 31, the company reported a net profit of US$486 million compared to US$437 million in the previous year. The figure was helped by a savings plan which reduced expenditures by US$80 million during the year.

Revenue rose 2 percent to US$3.9 billion.

Experian, based in Nottingham, England, advises companies on risks and rewards on providing credit, on marketing providing analytical skills and software to help organizations with decision-making. It also earns money by providing personal credit reports to consumers.

"There is more stability today in the United States and United Kingdom financial services than over the past 12 months, but this has yet to translate into significant change in client behavior, and the near-term economic outlook remains weak," said Don Robert, Experian's CEO.

"While we expect little organic revenue growth in the first half, for the year as a whole our objective is again to broadly maintain margins, grow profits at constant currency and deliver strong cash flow conversion."

Experian had a strong year in Latin America, with revenue up 51 percent to US$462 million.

Finance

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Experian posts profit but urges caution

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