Experian sees annual revenue growth on steady demand
(Reuters) – British credit data firm Experian Plc said on Wednesday it expects its annual organic revenue to grow between 4% and 6% on the back of steady demand from businesses and consumers.
Analysts were expecting the company to forecast a revenue growth of around 5.8%, according to company-compiled estimates.
Experian has benefited as Britain’s lenders seek more data on the finances of potential and existing customers amid still-high inflation.
The company’s key customers include banks, non-traditional lenders and insurance providers, which use its credit reports and scores to analyse and make decisions around credit risk, fraud prevention and lending terms.
For the year ended March 31, Experian’s profit before tax fell 19% to $1.17 billion on organic revenue growth of 7% to $6.59 billion.
(Reporting by Eva Mathews in Bengaluru; Editing by Subhranshu Sahu)