LONDON (ShareCast) - (Sharecast News) - Credit reference and data company Experian on Wednesday reported a jump in third quarter revenues and said growth expectations for the full year remained unchanged.
Revenue for the three months to December 31 was up 6%. Organic revenue growth for the year to March 31 is expected to be 6% - 8% at constant exchange rates.

The company expects annual growth of 7% for the period with revenue at $7.53bn, according to its own compiled consensus of analysts forecasts.

Experian's North American business, which makes up 68% of group sales, grew 6% at constant exchange rates. The Latin American business was up 8%. UK and Ireland reported organic revenue growth of 1%, and 9% for Europe, Middle East, and Africa and Asia Pacific.

"North America is the real dial-mover for Experian, and today's upbeat commentary should provide some offset to the slightly soft results. The US mortgage market, bogged down by affordability concerns and a sluggish housing sector, turned out to be a surprising bright spot, driving growth during the quarter - a welcome twist that should grab investors' attention," said Hargreaves Lansdown analyst Matt Britzman.

"Experian continues to prove itself as a high-quality operator, holding leadership positions in lucrative US markets while making impressive strides in high-growth regions like Latin America. While growth should remain a reliable thread in its story, there's still a shadow of higher bond yields and their potential ripple effects on US lending markets - a plot worth keeping an eye on."

Reporting by Frank Prenesti for Sharecast.com

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