Experian’s consolidated Q1 revenue growth was 15% at Actual Exchange Rates, 10% at constant exchange rates and organic growth was 6%).   The percent change in revenue year-on-year for the three months to June 2011 are illustrated in the chart on the left.   Historicial annual benchmarks are outlined in the chart on the right.

North America revenues grew at 6%, the UK and Ireland (16%1) benefiting from an increase in lender software installations.   Experian’s diversification strategy appears to be on track with spectacular growth rates in Latin America (33%1) and EMEA/Asia Pacific (30%1).  

Experian’s Latin American growth is buoyed by the acquisition of Serasa and soon will be with the acquisition of the Colombian credit bureau.  Whether the record expansion of consumer credit in Brazil will last has to be seen.  Experts seem to warn that the Brazilian consumer debt bubble may burst sooner or later.  That may have a negative impact on consumer credit information growth rates similar to what has happened in the USA.   Nevertheless Experian’s growth in other markets most likely will offset a potential softening in Brazil.

North America:  Organic revenue growth at Credit Services was 4%. Growth in consumer information reflected steady progress in prospecting and origination activity. At Decision Analytics, organic revenue growth was 13%, driven by some recovery in software sales and strength in analytics. At Marketing Services, organic revenue growth was 10%, with strong performances across all digital platforms. Organic revenue at Interactive declined 4%. Consumer Direct delivered mid single-digit growth, while the Mighty Net acquisition is now fully integrated and is performing well. As expected, lead generation declined, reflecting a very tough comparable in the education vertical and cutbacks by clients who reduced spending in advance of the introduction of new regulations governing student lending.

Latin America: Organic revenue growth at Credit Services was 18%, with strong performances across both consumer and business information. Consumer information benefited from good growth across the financial services, retail, telecommunications and automotive verticals, while business information growth reflected new product uptake and further penetration of the SME sector. As expected, one-off revenue from authentication declined in the quarter. Growth at Decision Analytics of 119% reflected good progress in scoring and analytics. At Marketing Services, organic revenue was up 1%.

UK and Ireland:  At constant exchange rates, total revenue growth in UK and Ireland was 6%. Organic revenue growth was 4%. The difference relates to the acquisition of Techlightenment (majority stake acquired January 2011).  While credit reference revenue remained weak during the quarter, there was continued recovery in lender appetite for new software installations, as well as growth in demand for value-added products. This resulted in good organic revenue growth at Decision Analytics, up 9%, while Credit Services was down 2%. Marketing Services delivered organic revenue growth of 1%, as strength in digital marketing offset subdued conditions in the public sector vertical. Interactive performed strongly, with organic revenue growth of 15%, reflecting growth in membership revenue.

EMEA/Asia Pacific Organic revenue growth at Credit Services was 3%, helped by strength in emerging market bureaus and good progress across the telecommunications vertical. At Decision Analytics, organic revenue declined by 10%, reflecting some deferral of decisions in Southern Europe.  Marketing Services performed very strongly, delivering organic revenue growth of 24%, driven by strong client appetite for digital services, particularly email.

Commenting on the performance of Experian, Don Robert, Chief Executive Officer, said: “We have delivered good revenue growth in our first quarter, reflecting continued progress in our growth strategy. At constant exchange rates, total revenue growth from continuing activities was 10%, with organic revenue growth of 6%.

“We expect to continue to deliver good growth in our business and are confident in our strategy and ability to execute. While mindful of the current macro environment, we expect organic revenue growth for the second quarter to be similar to the first quarter. For the full year, we continue to anticipate organic revenue growth in the mid-high single digit range, modest margin improvement and strong cash flow conversion.”

1 at actual exchange rates        Source: Experian Press Release