Online credit and financial information service provider Experian reported today that the financial industries in the US and UK had placed increased pressure on the company in the second half of 2007.
Don Robert, CEO of Experian described the company performance as “a good second-half performance despite continuing market place challenges in the US and the UK”. He sounded a warning to its investors though: “we do not plan on short-term improvement in the US and UK financial services environment.”
Despite the concerns in two of the most important markets for Experian, the company performed well with revenue growth of 21 per cent and organic revenue growth of two per cent. Its Decisions Analytics and Interactive data analysis and financial management services both grew organically by seven per cent. In the US it saw its car and business information services grow, which offset a decline in consumer information (credit checks on customers) activity. Likewise in the UK its business information service grew as the Credit Services and financial information products declined.
Experian made two major acquisitions in the second half of 2007, Hitwise, an online advertising monitoring service and N4 Solutions, a technology platform for distributing financial information. Together the acquisitions contributed 13 per cent to the company revenue growth.