Experian plc has released its trading update for the third quarter, ending on 31 December 2023. The company's Chief Executive Officer, Brian Cassin, expressed satisfaction with the performance, stating, "We delivered good growth in Q3, at the upper end of our expectations." The report indicates a 9% increase in revenue at actual exchange rates from ongoing activities and a 7% increase at constant exchange rates, with organic revenue growth of 6%.
The breakdown of revenue growth by region shows that North America experienced a 6% increase, Latin America saw a substantial 25% growth, the UK and Ireland had a 9% increase, and EMEA and Asia Pacific had an 8% rise. The organic revenue growth percentages for the same period were 5% for North America, 13% for Latin America, and 3% for the UK and Ireland. The company expects full-year organic revenue growth to be between 5-6%, with modest margin accretion, all at constant exchange rates and on an ongoing basis.
The report also provides a detailed breakdown of the business mix, including the percentage change in organic revenue for each segment. North America, which accounts for 67% of the group revenue, delivered organic revenue growth of 5%. Latin America, representing 15% of the group revenue, saw organic revenue growth of 13%. The UK and Ireland, contributing 12% of the group revenue, achieved organic revenue growth of 3%. EMEA and Asia Pacific, accounting for 6% of the group revenue, experienced a 7% organic revenue growth.
The breakdown further delves into the performance of each business unit within the segments, highlighting the factors contributing to the revenue growth. For instance, in North America, the Consumer Services segment delivered organic revenue growth of 9%, driven by an increase in the member count and strong performance in premium services and the insurance marketplace. Latin America's Consumer Services segment achieved organic revenue growth of 26%, with significant contributions from the free membership base and positive performance in the debt resolution service and e-wallet payment integrations in Brazil.
Overall, the trading update reflects a positive performance for Experian plc in the third quarter, with strong revenue growth across its key regions and business segments.