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Earnings News

Experian FY Pre-tax Profit Down

By RTTNews Staff Writer   ✉   | Published:   | Follow Us On Google News
rttnewslogo20mar2024

Global information services company Experian plc (EXPN.L) reported that its profit before tax for the year ended 31 March 2023 was US$1.17 billion down from the prior year's US$1.45 billion, due to a non-cash charge for the impairment of goodwill of US$179 million in EMEA, a decrease in net gain from associate disposals of US$89 million and an increase to the fair value of contingent consideration.

Profit attributable to owners of the company for the year declined to US$770 million or 83.6 US cents per share from US$1.17 billion or 126.5 US cents per share in the prior year, reflecting a lower profit before tax, no repeat of the prior year profit from discontinued operations and an increased effective tax rate.

The company announced a second interim dividend of 37.75 US cents per share, up 6%. This will be paid on 21 July 2023 to shareholders on the register at the close of business on 23 June 2023. Taking full-year dividend to 54.75 US cents per share, up 6%.

Revenue for the year increased 5% to US$6.62 billion from last year. Total revenue growth from ongoing activities was 6% at actual exchange rates and 8% at constant exchange rates, and organic revenue growth was 7%.

For the year ahead, the company anticipates another year of growth due to the breadth and the resilience of our portfolio, and significant structural growth opportunities. Despite the uncertain economic climate, we expect to deliver organic revenue growth in the range of 4% to 6% and modest margin accretion, all at constant exchange rates and on an ongoing basis.

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