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)
Uma Rajagopal has been managing the posting of content for multiple platforms since 2021, including Global Banking & Finance Review, Asset Digest, Biz Dispatch, Blockchain Tribune, Business Express, Brands Journal, Companies Digest, Economy Standard, Entrepreneur Tribune, Finance Digest, Fintech Herald, Global Islamic Finance Magazine, International Releases, Online World News, Luxury Adviser, Palmbay Herald, Startup Observer, Technology Dispatch, Trading Herald, and Wealth Tribune. Her role ensures that content is published accurately and efficiently across these diverse publications.