Experian shares were up 1.5% in early morning trading on Thursday after the company reported a 7% revenue growth at actual exchange rates and a 9% rise in constant exchange rates in its Q1 2023 trading update.
“We grew strongly in Q1, in line with our expectations, underpinned by our portfolio diversity and growth initiatives,” said Experian CEO Brian Cassin.
“Total revenue growth was 7% at actual exchange rates and 9% at constant exchange rates. Organic revenue growth was 8%.”
Experian highlighted an 8% revenue climb in North America, 30% in Latin America, a 6% drop across the UK and Ireland, an 8% slide in Europe, the Middle-East, Africa and the Asia-Pacific, and a total global revenue growth of 7% at actual exchange rates.
The firm mentioned 65% of its revenue was linked to North America, with ongoing strength in bureau volumes, positive demand for analytics and software, expansion in health, targeting, automotive and verification services, alongside continued momentum from consumer services.
Experian noted 13% of its revenue came from Latin America and was driven by contributions from acquisitions in fraud and identity management, consumer services with an organic revenue of 42%, and from its new bureau in Chile.
It also reported strong performance in its Limpa Nome credit collection marketplace and credit comparison marketplace.
The company pointed out weakened macro-economic factors in its UK and Ireland business, yet drew attention to a 6% organic growth in its B2B operations reflecting new business traction and progress in consumer credit, business credit and fraud and identity management segments.
Meanwhile, Experian reported weak macro-economic conditions across the EMEA and Asia-Pacific regions, and commented it continued to focus on strategic markets where it could drive scale and enhance operating efficiency.
The information services group confirmed its expectations for FY 2022 remained unchanged, with an anticipated organic revenue increase of 7% to 9% and total revenue growth of 8% to 10% at constant exchange rates.