Saturday, August 15, 2020

Revenue falls at Experian

Revenue has fallen in Q1 at Experian, the information services company with its UK HQ in Nottingham.

According to a trading update for the three months ended 30 June 2020, in UK and Ireland both total and organic revenue were down 15%.

B2B organic revenue declined 15%, with contraction in credit reference volumes due to clients tightening credit policies and a significant reduction in lending levels.

The firm also experienced delays in client purchasing decisions for software, a near total shutdown in the automotive market, and marketing data revenue was also impacted as advertisers cut back on marketing spend.

Consumer Services organic revenue declined 18%.

Brian Cassin, Chief Executive Officer, said: “While the COVID-19 health crisis continues to weigh on people and economies everywhere, Experian has been very resilient. We delivered growth in North America and Brazil during Q1, which helped offset weaker conditions elsewhere, and as a result total revenue was down just (1)% at constant exchange rates, with organic revenue down (2)%. At actual exchange rates total revenue declined by (5)% due to the weakness of the Brazilian Real relative to the US dollar.

“The COVID-19 crisis has shown the critical importance of data in responding to the huge challenges created by the pandemic and of finding a route to recovery. Through this challenging period, Experian has been working to support governments, hospitals, businesses and charities, and we will continue to provide data and other services to governments and frontline organisations to help get economies back on their feet.

“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.”

A message from the Editor:

Thank you for reading this story on our news site - please take a moment to read this important message:

As you know, our aim is to bring you, the reader, an editorially led news site and magazine but journalism costs money and we rely on advertising, print and digital revenues to help to support them.

With the Covid-19 lockdown having a major impact on our industry as a whole, the advertising revenues we normally receive, which helps us cover the cost of our journalists and this website, have been drastically affected.

As such we need your help. If you can support our news sites/magazines with either a small donation of even £1, or a subscription to our magazine, which costs just £33.60 per year, (inc p&P and mailed direct to your door) your generosity will help us weather the storm and continue in our quest to deliver quality journalism.

As a subscriber, you will have unlimited access to our web site and magazine. You'll also be offered VIP invitations to our events, preferential rates to all our awards and get access to exclusive newsletters and content.

Just click here to subscribe and in the meantime may I wish you the very best.






Latest news

£200k loan to see Corby care service open new facility helping disabled adults

A Corby care service for adults with learning disabilities has secured a £200k loan from the Midlands Engine Investment Fund (MEIF) Debt Finance, managed...

Amazon to create 1,000 jobs in East Midlands expansion

Amazon has announced plans to create 1,000 permanent jobs at a new fulfilment centre in Sutton-in-Ashfield as part of its expansion in the East...

Nottingham-headquartered financial adviser acquires counterpart

Palatine Private Equity-backed Wren Sterling has completed a deal with Corimar Holdings Ltd to purchase the assets of Frobisher Capital Ltd, an independent financial...

Plans approved for 400 new homes in Ripley

Construction work on new homes in the Derbyshire town of Ripley is set to begin after detailed plans for the scheme were approved by...

Time Out: Elliot Cook, Simple Marketing Consultancy

This week Simple Marketing Consultancy celebrated its 10th anniversary, so we caught up with Account Director, Elliot Cook, who joined the company four years...

Related news

Chance for Leicester businesses to get share of £2.6m in extended lockdown business grants scheme

Small and micro-businesses across Leicester which were forced to close during the city’s extended lockdown can apply for financial help under a new grant...

£200k loan to see Corby care service open new facility helping disabled adults

A Corby care service for adults with learning disabilities has secured a £200k loan from the Midlands Engine Investment Fund (MEIF) Debt Finance, managed...

Amazon to create 1,000 jobs in East Midlands expansion

Amazon has announced plans to create 1,000 permanent jobs at a new fulfilment centre in Sutton-in-Ashfield as part of its expansion in the East...

Nottingham-headquartered financial adviser acquires counterpart

Palatine Private Equity-backed Wren Sterling has completed a deal with Corimar Holdings Ltd to purchase the assets of Frobisher Capital Ltd, an independent financial...