Experian plc (LON:EXPN), the global information services company, today issued its half-yearly financial report for the six months ended 30 September 2018.
Brian Cassin, Chief Executive Officer of Experian, commented:
“We have started the year well, with first-half organic revenue growth of 8% as we expand our data assets, introduce new global products and gain momentum in Consumer Services.
“We now expect full-year organic revenue growth in line with the first half, and at the top of our previous guidance range. While foreign exchange translation remains a headwind, we expect EBIT growth at or above revenue growth and strong progress in Benchmark earnings per share, all at constant currency.”
|
Benchmark and Statutory financial highlights |
|||||
|
2018 |
2017³ |
Actual rates growth % |
Constant rates growth % |
Organic growth % |
|
|
Benchmark¹ |
|||||
|
Revenue – ongoing activities |
2,364 |
2,204 |
7 |
9 |
8 |
|
Benchmark EBIT2,4 |
649 |
608 |
7 |
10 |
n/a |
|
Benchmark EPS |
US48.7c |
US45.2c |
8 |
12 |
n/a |
|
Total dividend |
US14.0c |
US13.5c |
4 |
n/a |
n/a |
|
Statutory |
|||||
|
Revenue |
2,364 |
2,207 |
7 |
9 |
n/a |
|
Operating profit |
580 |
546 |
6 |
n/a |
n/a |
|
Profit before tax |
470 |
495 |
(5) |
n/a |
n/a |
|
Basic EPS |
US35.3c |
US36.8c |
(4) |
n/a |
n/a |
1 See Appendix 1 on page 12 and note 6 to the condensed half-yearly financial statements on pages 24-26 for definitions of non-GAAP measures. 2 From ongoing activities.
3 Results for 2017 are restated for IFRS 15, Benchmark measures are also restated for exited business activities which comprise certain B2B businesses.
4 See page 8 for reconciliation of Benchmark EBIT from ongoing activities to Profit before tax.
· A strong first half.
o 9% total revenue growth at constant currency, 8% organic revenue growth, 7% total revenue growth.
o Benchmark EBIT margin of 27.5%, up 20 basis points at constant rates, down 10 basis points at actual rates, with 7% total Benchmark EBIT growth.
o 12% Benchmark EPS growth at constant rates.
· Further momentum in B2B and continued progress in Consumer Services.
o B2B organic revenue growth of 9%.
o Consumer Services organic revenue growth of 5%, with strong progress across new products.
· Operational highlights.
o Ascend big data analytics platform installed in 14 of our largest US clients; global roll-out underway.
o Clarity Services acquisition exceeds buy-plan expectations; realising synergies.
o Global B2B platforms scaling across our geographies; new opportunities secured for PowerCurve, CrossCore, Text for Credit and Verdus.
o Strong performance in Experian health; double digit growth.
o IdentityWorks memberships reach 280,000, up over 300% year-on-year.
o Free consumer memberships reach over 45m combined across our three major markets.
o New services for consumers introduced: Triple Scan, Child ID Scan and Experian Financial Profile.
· Continuing commitment to shareholder returns and disciplined capital allocation.
o First interim dividend up 4% to 14.0 US cents per ordinary share.
o Net share repurchases of US$107m, at 30 September 2018.
