Experian reported total and organic revenue from continuing activities up 6% at constant exchange rates or up 3% at actual exchange rates. Total revenue for the first half 2013 were US$2.3bn versus US$2.2bn (2012).
EBIT margin from continuing activities maintained at 26.0%, in line with guidance. Total EBIT from continuing activities up 7%, at constant exchange rates. Total EBIT from continuing operations of US$608m up 3% at actual exchange rates. Benchmark profit before tax of US$573m, up 2%. Profit before tax from continuing operations of US$480m (2012: US$73m).
Don Robert, Chief Executive Officer, commented: “We have delivered another successive half year of good organic revenue growth, with all regions and business lines contributing. Despite subdued trading conditions in some emerging markets, we also produced double-digit growth in benchmark EPS. With the positive structural industry drivers and the targeted investments that we are making in our growth programme including the acquisition of Passport Health Communications, we are confident that we are well positioned to sustain premium growth into the future.
“For the second half, we expect organic revenue growth to be in a similar range as in the first half, and for the full year, we continue to expect modest margin improvement (at constant currency) and to convert at least 90% of EBIT into operating cash.”
Roberts announced the proposed acquisition of Passport Health Communications, Inc. for US$850m which is to enable Experian to offer a one-stop-shop payments capability in the US healthcare market.
Source: Experian Press Release