DUBLIN (dpa-AFX) - Experian plc. (EXPN.L) reported that its first-quarter total revenue was down 1% at constant exchange rates, with organic revenue down 20%. At actual exchange rates total revenue declined by 5% due to the weakness of the Brazilian Real relative to the US dollar.
Brian Cassin, Chief Executive Officer, said, 'There continues to be a range of outcomes and a level of uncertainty around the extent or re-imposition of lockdowns, government action to support economies and the shape of economic recovery. We therefore do not intend to provide guidance for the year ending 31 March 2021.'
Looking ahead for the second-quarter, the company currently expects that organic revenue will be in the range of flat to down 5%, with no change in its assumption of costs held broadly flat.
Following the completion of the acquisition in Arvato Financial Solutions Risk Management division in Germany and taken together with the smaller acquisitions annualising from last year, the company expects acquisitions to add around 2% to revenue growth for the rest of the financial year.
If recent foreign exchange rates persist, the company expects a headwind to Benchmark EBIT for the year ending 31 March 2021 of 4%.
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