Experian hikes dividend as profit jumps

 
City A.M. Reporter
Credit information group Experian hiked its interim dividend and said it continued to look at ways of returning cash to shareholders after a stronger than expected first half.

"We will continue to evaluate options for returning surplus cash to shareholders," the company said in a statement after raising its first interim dividend by 29 per cent to nine cents a share.

Experian, best known for running consumer checks for banks, responded to pressure to unlock its cash reserves in May with a share buyback and said that the £220m programme remained on track.

The FTSE 100 listed company said benchmark first half profit before tax rose 12 per cent to £283m as economic recovery and emerging markets helped boost revenue by eight per cent

"For the year as a whole, we expect to deliver similar rates of organic revenue growth to the first half, and we are targeting modest improvement in our EBIT margin," said chief executive Don Robert.