Information services firm Experian Plc (EXPN.L) Thursday reported a decline in profit for fiscal 2013, reflecting higher charge related to financing fair value re-measurements. Revenues increased from last year as it delivered growth across all of its regions, with notable performances from North America and Latin America.
Looking ahead to fiscal 2014, the company sees mid to high single-digit organic revenue growth and modestly improved margins. The shares are up about 6 percent in the morning trade.
In the current fiscal, organic revenue growth was 14 percent in Latin America, and 7 percent in North America. The company saw organic revenue increase of 5 percent in the UK and Ireland and 3 percent in EMEA/Asia Pacific.
Don Robert, chief executive Officer stated, "...For the year ahead, we aim to deliver further premium growth, and look for mid to high single-digit organic revenue growth, modestly improved margins (at constant currency) and cash flow conversion of at least 90%."
Announcing its preliminary results for the fiscal year ended March 31, 2013, the company said its profit before tax declined to $440 million from $689 million in the previous year.
The latest-quarter results included an IFRS charge of $558 million from the movement in Serasa put option. Excluding items, Benchmark profit before tax was $1.2 billion.
On a per share basis, earnings declined to 36.4 US cents from 65.1 cents per share a year ago. Benchmark earnings per share from continuing operations were 83.9 cents, while it was 77.5 cents per share last year.
Annual revenues climbed to $4.73 billion from $4.49 billion reported last year. Organic revenue growth was 8 percent. For fiscal 2013, the company announced a second interim dividend of 24.00 US cents per share. This will give a full-year dividend of 34.75 US cents per share, up 9 percent from last year. The dividend will be paid on July 19 to shareholders of record on June 21.
The firm also said it plans to buy back shares of $500 million, over the next 12 months.
In London, Experian shares are currently trading at 1,238 pence, up 66 pence or 5.63 percent, on a volume of 1.15 million shares.
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