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Experian Q3 Revenues Up 7% – Decision Analytics Grew by 16%

Experian logo-homeExperian issued its third quarter Interim Management Statement (Three months ending December 2013) reporting revenue growth of 5% at actual exchange rates and total growth at constant exchange rates of 7%.  Organic growth at constant exchange rates was 5%.

Experian’s growth got significant lift from its Decision Analytics business.  Marketing services were surprisingly sluggish, and Latin America is impacted by a less favorable economic environment.

Experian Third Quarter ending Dec 2013 Bgrowth

CEO Don Roberts stated:  “Our Decision Analytics business grew 16%, fueled by fraud prevention products and strong sales of our flagship PowerCurve software platform. We have also seen improving conditions in some markets such as the UK, and we’re making significant progress on the strategic investments we have made in prior years which are providing new sources of growth. As we have previously said, some of our markets have been challenged, with a weak economic environment in Brazil, and softness in US mortgage activity.

“Our recent acquisitions in fraud and healthcare have both made strong starts and we are seeing good take up with clients. Overall we have delivered another quarter of solid performance. Looking ahead, we expect organic revenue growth for the second half to be at least similar to that in the third quarter, while for the full year we continue to expect modestly improved margins (at constant currency) and cash flow conversion of at least 90%.”

During the quarter, Experian completed the acquisitions of 41st Parameter and Passport Health Communications. These acquisitions, as well as the maturity in December 2013 of the £334m 5.625% Euronotes, were funded from Experian’s existing committed bank facilities.

At 31 December 2013 Experian’s borrowings totaled $4.3bn and net debt was $4.1bn.  Undrawn bank facilities totaled $0.9bn.  Other than as disclosed, there has been no change since 31 December 2013 to Experian’s general financial position, which remains strong, and no material change to Experian’s trading position to the date of this statement.

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