Experian 1st Half Profit Falls After Decline in U.K. Consumer Services

By Maryam CockarFeaturesDow Jones Newswires

Experian PLC (EXPN.LN) said Wednesday that pretax profit for the first half of fiscal 2018 fell 7% due to a decline in revenue from its U.K. and Ireland consumer services business.

The credit reporting agency said pretax profit for the six months ended Sept. 30 was $467 million compared with $500 million a year earlier. Group revenue increased 5% to $2.19 billion compared with $2.09 billion a year earlier, it said.

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Revenue from the U.K. and Ireland consumer services company decreased to $86 million from $112 million a year ago.

FTSE 100-listed Experian raised its interim dividend by 4% to 13.5 U.S. cents from 13 cents last year.

Chief Executive Brian Cassin said that he expects good levels of growth for the full year, with organic revenue growth in the mid-single digit range and stable margins as Experian invests in operations and growth initiatives. He added that he continues to expect further progress in benchmark earnings per share.

Write to Maryam Cockar at maryam.cockar@dowjones.com

(END) Dow Jones Newswires

November 15, 2017 02:48 ET (07:48 GMT)