Experian hit by currency headwinds
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Credit checker Experian (LON:EXPN) said revenue grew 9% in the three months to 30 June, down from 12% in the preceding three months but up from 8% for the past financial year as a whole.
Currency swings are now expected to have a bigger impact than erstwhile expected, with the impact of foreign exchange on growth of underlying operating profit, which is reported in dollars, now expected to be 4% for the full year, up from the previous 1% guidance in May.
Nevertheless, management remained buoyant, reporting that, “We have started the year well, in line with our expectations, with Q1 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.”
Experian shares rose 1p to 1,921.5p (as at 10:53 BST).
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