Experian gives an upbeat outlook on credit market
CREDIT information group Experian posted a one per cent rise in first-half revenues, in line with expectations, but gave a rosier picture for the full year, saying it expects to at least maintain margins and grow profits.
Experian, best known for running consumer credit checks for banks, has come under pressure as US and UK lenders tighten the reins on loans and borrowers shy away.
The group said there were signs of stabilisation in the US credit market, though the picture remained weak in Britain.
However, the firm said that continued benefits from a restructuring programme announced 18 months ago and growth in businesses like Interactive – which includes products allowing consumers to access their credit reports and prevent ID theft – more than offset the negative impact on margins from weakness in areas including its core Credit Services unit.