Half-yearly financial report for the six months ended 30 September 2007
- Good first half progress
- good organic sales growth across all four regions
- investment to drive future growth and operating efficiency
- Serasa acquisition increases emerging markets exposure
- Total sales growth of 16% to $1.9bn. Sales from continuing activities up 14% at constant exchange rates to $1.9bn, with 6% organic growth.
- Total EBIT of $454m up 15%. Continuing EBIT up 12% at constant exchange rates.
- EBIT margin from continuing activities, excluding FARES contribution, maintained at 21.9% during period of investment.
- Profit before tax of $285m. Benchmark profit before tax of $396m.
- Basic EPS of 22.2 cents. Benchmark EPS of 29.5 cents.
- First interim dividend increased by 18% to 6.5 cents per share.
- Net debt of $3.0bn after funding acquisitions of $1.7bn, mainly Serasa and Hitwise.
John Peace, Chairman of Experian, said: "Experian has made significant operational and strategic progress in the first half of this year, further positioning the business to continue to deliver long term, sustainable growth."
Don Robert, Chief Executive Officer of Experian, said: "In the first half of this year our business has demonstrated its resilience in the face of exceptionally difficult markets for US and UK financial services. Organic sales growth slowed in the second quarter and we expect further slowdown in the second half due to the market environment. We continue to focus on operational efficiency, and based on current trading conditions we remain on course to deliver full year profits in line with our previous expectations."
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