May 17, 2018 / 6:40 AM / 6 months ago

Credit checker Experian's full-year revenue rises, shares up

(Reuters) - Experian Plc (EXPN.L), the world’s biggest credit data company, posted a 7.5 percent rise in full-year revenue on Thursday, driven by strength in its core business, and said it expected 2018 to be another year of growth.

Experian, best known for running consumer credit checks for banks, landlords and retailers, said revenue for the year ended March 31 rose to $4.66 billion (3.4 billion pounds) from $4.34 billion a year ago.

Shares of the company rose 3 percent at market open and were top gainers in the FTSE 100 .FTSE index that edged down.

Experian looks to buyback another $400 million of shares, the company said, after it completed its earlier $566 million share repurchase programme.

“We begin the year with momentum in the business, and we expect another year of strong performance, with EBIT growth at or above revenue growth and further strong progress in Benchmark earnings per share,” said Chief Executive Brian Cassin.

Revenue at Experian’s credit services business, which accounts for more than half of its sales, rose 9.3 percent to $2.61 billion.

Experian, which earns the bulk of its revenue overseas, said earnings before interest and taxes for the year, from ongoing activities, rose 7.8 pct to $1.29 billion.

Reporting By Justin George Varghese in Bengaluru; Editing by Gopakumar Warrier

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