Investors rate Experian despite profit drop
Information services firm Experian (LON:EXPN) had a strong finish to the year ended 31st March, with total revenues for the 4th quarter up by 12% as North American customer services returned to growth. Total revenues for the year were up by 8% at $4.6 billion, fuelled by an 8% expansion in organic B2B sales.
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Management made investments aimed towards the future of the group with a focus on new data sources, including low income lending and mobile phones, and new products were well received.
However, statutory profits before tax dropped 7% to $994 million. Basic EPS climbed 6%, but were helped by a substantial share buyback scheme carried out over the last year and will no doubt be further enhanced by a new $400 million scheme announced for the current period. Shares in Experian climbed by 4.48% to 1,785.50p at 14:15 BST.
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