Experian beats profit forecasts

Dublin-headquartered credit information firm Experian has narrowly beat profit forecasts, benefiting from strong growth in Latin America, and said it was on track to meet its targets in the current fiscal year.

Experian, best known for carrying out consumer credit checks for banks and retailers, yesterday reported earnings before interest and tax (EBIT) from continuing operations for the year to the end of March of $1.175bn (€895.7m), up 19% and ahead of the average forecast of $1.15bn, according to Thomson Reuters data.

“For the year ahead, we expect to continue to deliver high-quality growth, consistent with our core financial objectives to deliver mid-high single-digit organic revenue growth, maintain or improve margin and deliver cash-flow conversion of over 90%,” chief executive Don Robert said in a statement.