Experian plc, a global data and technology company, has released its trading update for the first quarter of 2024. The company reported a 7% increase in revenue at actual exchange rates from ongoing activities and an 8% increase at constant exchange rates, with organic revenue growth of 7%. Experian's Chief Executive Officer, Brian Cassin, stated that the company's growth expectations for the full year remain unchanged, with an anticipated organic revenue growth of 6-8% and margin accretion of 30-50 basis points, all at constant exchange rates and on an ongoing basis.
The report detailed the percentage change in revenue from ongoing activities year-on-year for the three months ended 30 June 2024, broken down by region and business unit. North America, which accounts for 66% of the group revenue, delivered organic revenue growth of 8%, with strong performance in the Data, Decisioning, and Consumer Services segments. Latin America, representing 16% of the group revenue, saw organic revenue growth of 5%, driven by growth in the Consumer Services segment. The UK and Ireland, contributing 12% of the group revenue, reported organic revenue growth of 2%, while EMEA and Asia Pacific, accounting for 6% of the group revenue, achieved organic revenue growth of 7%.
The business mix, including the percentage change in organic revenue year-on-year for the three months ended 30 June 2024, was also outlined. The report provided a detailed breakdown of the performance of each business unit within the different segments, highlighting key growth contributors and market trends. Notably, Experian's Consumer Services segment demonstrated strong organic revenue growth across multiple regions, driven by various product lines and platform enhancements.
Overall, Experian's trading update for the first quarter of 2024 reflects positive growth across its key regions and business segments, in line with the company's expectations for the full year.