Organic growth for continuing activities rose one percent in the Q1, 2008 [FINANCIAL YEAR APRIL 2008 – MARCH 2009], as Experian’s core Credit Services unit deteriorated in line with expectations, nevertheless revenues grew 16 percent due to the impact of recent acquisitions. According to Reuters, Experian is widely perceived as an indicator of sentiment in financial services. It has seen the value of its shares almost halve in the past year reflecting a slowing of UK and U.S. financial services markets with banks cutting back on loans and credit cards.
Experian executives said they were not expecting a short-term recovery in its core markets, but said new geographies and business lines catering to banks’ growing concern with risk and portfolio management would support growth. Experian also stated that it had run out of large acquisition prospects indicating slower growth prospects. Source: Reuters (for further details go to page 15)
Experian announced that the change of name of the Company to Experian plc is expected to become effective on 21 July 2008, following the registration of the change with Companies Registry in Jersey. Source: Experian Press Release
BIIA Newsletter July/August 2008 Issue