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Experian sees robust revenue growth on crisis-driven demand for data

By Reuters

(Reuters) -Experian expects a 15-20% organic revenue growth in the current quarter, the world’s largest credit data firm said on Wednesday, after strong demand for its analytics services during the pandemic drove its annual earnings higher.

Pretax profit rose to $1.08 billion in the year ended March 31 from $942 million a year earlier, while organic revenue growth came in at 4%.

Experian, which runs credit data checks for people and assists lenders in managing credit risks, has benefited from a strong housing market recovery in the United States as interest rates were kept at record lows to reinvigorate a crisis-hit economy.

The blue-chip company forecast an organic revenue growth of 7-9% in its current fiscal year, while the total revenue growth is expected to be 11-13%.

Chief Executive Officer Brian Cassin said the company, with 17,800 employees across 44 countries, helped governments and societies to respond to the health crisis, while aiding hospitals to marshal resources and countries to support businesses.

“We have expanded the range of services we offer to our hospital clients to help them manage their revenue cycle and we are steadily increasing our presence in new customer segments such as the payer sector and pharmacies,” the company said.

“We saw strong traction for these services as our hospital clients sought to provide healthcare in virtual settings.”

(Reporting by Muvija M in Bengaluru; Editing by Subhranshu Sahu)