Experian to invest $110m as restructures in bid to cut spending

City A.M. Reporter
CREDIT data firm Experian is to spend $110m (£69m) on a restructuring programme aimed at reducing costs and increasing its focus on key markets.

Chief executive Don Robert said the company, best known for running consumer credit checks for banks and retailers, expects the initiative to result in annual savings of about $75m.

Experian, which reported six per cent growth in underlying pre-tax profit in the first half, will increase its use of off-shore facilities, reduce its exposure to lower-growth activities and lower its fixed costs relating to facilities, technology and infrastructure, Robert said.

Experian’s underlying pre-tax profit of $563m in the six months to 30 September was ahead of the $561m expected by analysts in a company poll. Experian said it expected to achieve high single-digit organic revenue growth for the full year.