Shares in consumer credit reporting agency Experian (LSE: EXPN) rose over 2% Tuesday morning after the company reported higher-than-expected revenue growth in the third quarter, led by a substantial increase in its Latin America business.
The FTSE 100 listed company, which operates in 44 countries, said total revenue rose 9% to £1.13bn in the three months to December 31. Organic revenue growth came in at 6%, at the upper end of the company’s expectations.
Experian’s Latin America division saw the strongest growth, with revenue up 25% year-on-year. The region accounts for 15% of Experian’s total revenue.
“We made further progress across all regions, with Latin America delivering an especially strong performance,” said Chief Executive Officer Brian Cassin.
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Going forward, Experian said it expects 5-6% organic revenue growth for the 2024 financial year and a “modest” improvement in its profit margin.
The company will announce full-year results on May 15th. Experian shares are up 8.5% over the last 12 months.
