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.”