GUS plc has publicly confirmed plans to spin off its information services subsidiary Experian.
Experian's revenue this year has grown six per cent to £1.36bn, with operating profit up almost 13% to £318.3m.
The highly acquisitive firm spent £181 million on buying 16 companies and 11 affiliate credit bureaux in the 12 months to end-March. Earlier this month, Experian acquired LowerMyBills.com, an online service that enables US consumers to compare deals on loans, mortgages, insurance and other products, for $330m, plus a maximum performance-related earn-out of $50m over the next two years.
In a statement today, the GUS board says it believes a "separation" of Experian will further enhance shareholder value, but insists that it will continue to invest in the business and drive growth while waiting for the "right time" to sell.