Experian back to growth targets

Experian's (EXPN) performance at the half-year mark has been held back by a decline in its North American consumer services business and weak market conditions in Latin America. The credit ratings agency has also fallen prey, albeit indirectly, to a data breach by hackers, who acquired the credit details of millions of US T-Mobile customers in October. However, during the first half of this year the group managed to move into the lower end of its target range for organic revenue growth, achieving a 4 per cent increase at constant currency (CC) exchange rates. This was driven by the group's core North American credit services business, which grew CC revenue by 8 per cent. Group operating profit grew marginally to $556m (£369m), reflecting a 10 basis point increase in the margin to 27.5 per cent.