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Experian Posts 18% Rise in Pre-Tax Profit
Global information services group Experian has posted a pre-tax profit of $318m for the first half of the year; up from $270m for the same period in 2007. Organic revenue growth varied widely by region with North America and the UK up just 1% but Latin America more than doubled.
The firm's first-half revenues amounted to $2.02bn, up 13% from $1.79bn a year before. Gross profit increased to $1.07bn from last year's $933m, while operating profit dropped to $331m from $335m.
With regard to business segments, Decision Analytics' revenues rose 9% to $261m; Credit Services climbed 15% to $859m; Marketing Services grew 7% to $400m; and revenues from Interactive increased 9% to $467m.
Revenues from the UK and Ireland rose 4% at constant exchange rates to $475m, while organic revenue growth was 1%.
Across other regions, EMEA/Asia Pacific revenues rose 21% at constant exchange rates to $212m; North America rose 1.7% year-over-year to $1.04bn, with organic revenue growth of 1%; and Latin American surged 119% at constant exchange rates to $263m.
Chairman John Peace commented: 'Experian performed well in the first half, delivering good revenue, profit and cash performances, even though market conditions were exceptionally challenging.'
For the third quarter, the company is predicting organic revenue growth will be similar to the first half. For the full year, the company said its objective remains 'to broadly maintain margins and to grow profits, while continuing to position the business for long term success'.
Web site: www.experian.com .
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