Experian's dependency on a free flowing loans industry was apparent in its first-quarter trading update. Lower levels of lending meant fewer credit checks were conducted by its financial services customers and, as a result, sales growth slowed to 1 per cent at constant exchange rates.
Its North American business was particularly hard hit, with sales down 2 per cent, as the recession took its toll. North American revenues from credit checking fell 6 per cent, while its marketing business experienced a 14 per cent sales drop, as retailers slashed marketing budgets. The performance in credit checking was worse still in the UK and Europe, although Experian reported a 56 per cent rise in sales from customers checking their own credit ratings online.
