CREDIT information company Experian saw its UK operations shrink by a further one per cent in the last quarter, but strong growth elsewhere led to a seven per cent rise in revenue.
The FTSE 100 firm, which offers consumer credit checks and operates in more than 90 countries, said the longer than expected consumer slump in the UK dented sales again, and that the consolidation of several banks had shrunk its institutional client base.
However, it pointed out that its activities in advising telecoms companies and government bodies on marketing and services remains on track.
Total sales in Latin America jumped 22 per cent and US business rose five per cent in the three months to June, swinging the firm into overall growth, said an interim statement.
The UK-based company reported a global pre-tax profit of $661m (£430m) last year, with all regions except the UK and Ireland reporting growth.
Experian’s chief executive Don Robert said: “Experian is benefiting from strong execution across the globe, even though recovery in the US and the UK financial markets remains very gradual. For the first half, we are targeting mid single-digit organic revenue and EBIT growth (from continuing activities at constant currency).”
Oriel Securities yesterday retained its “buy” recommendation, saying: “This is an excellent start to the year and increases our confidence in consensus estimates moving up as the year progresses.” Charles Stanley and Evolution also rated Experian “buy”.
Shares closed 2.5 per cent up at 649p, continuing the firm’s climb throughout July.