U.S. News

Britain's Experian First-Quarter Sales Rose 11%


Credit checking business Experian said Thursday that fiscal first-quarter sales rose 11%, in line with the company's forecasts.

"While we still face challenges in some markets, we are pleased with the start we have made to the year, reflecting good performances across the group," said Chief Executive Don Robert.

For the year as a whole, he said, the company expects internal sales growth at a mid- to high single-digit rate, accelerating into the second half.

Experian spent $1.6 billion (1.16 billion euros) acquiring five businesses during the quarter to expand its geographical range. Those acquisitions include a 65% stake in Serasa, a Brazilian credit bureau in Brazil, and the acquisition of Hitwise, a market research company.

Shares in Experian slipped 1.1% to 614 pence ($12.46; 9.06 euros) on the London Stock Exchange. The company was spun out of financial-to-retail company GUS last year.