Experian reported total Group revenue of US$2.3bn. Revenue from continuing activities was up 12% at constant exchange rates and 6% at actual rates, principally due to the depreciation of the Brazilian real against the US dollar. Organic revenue growth was 8% at constant exchange rates.
Total EBIT from continuing operations of US$590m, up 14% at constant exchange rates and up 6% at actual rates.
The EBIT margin from continuing activities was up 10 basis points to 25.8%. Profit before tax from continuing operations of US$76m (2011: US$351m), after an IFRS non-cash charge of US$403m from the movement in the Serasa put option liability. Experian expects to converter at least 90% of EBIT into operating cash.
Benchmark profit before tax of US$563m, up 6% (and up 13% at constant exchange rates).
Don Robert, Chief Executive Officer, commented: “We delivered strong revenue and EBIT growth in the first half of this financial year (at constant currency), with growth across all regions and business lines. This is the result of consistent execution on our strategy and global growth program, helping us to withstand pressures in the global economy. While we face a tough comparable in Q3, for the full year, we expect high-single digit organic revenue growth, and modest margin improvement (at constant currency).
Source: Experian Press Release – To read more log on