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Experian to launch $400m buyback programme despite 7% fall in profit

By BFN News | 07:59 AM | Thursday 17 May, 2018

Experian said it would execute a $400m share buyback programme despite reporting a 7% fall in profit before tax for the year to end of March. Profit before tax fell 7% to $994m as revenue growth of 8% was held back by poor performance in the UK and Ireland. Revenue grew 8% to $4.7bn as North America revenue rose 8%, while both EMEA and Asia Pacific revenues grew double digits but UK and Ireland revenues were flat for the year. Experian said benchmark earnings before interest and taxes (EBIT) for the period rose 7% to $1.3bn. The firm said it expects another year of strong performance with EBIT growth at or above revenue growth and further strong progress in benchmark earnings per share. The total dividend rose 8% to 44.75 cents and the firm said it expects to execute a new net share repurchase programme of up to US$400m. 'We delivered a strong performance in FY18 as we execute on our innovation agenda and our One Experian approach. Growth was particularly strong across B2B and we have made significant progress in Consumer Services, which returned to growth in North America in the fourth quarter, said Brian Cassin, Chief Executive Officer. Story provided by

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