Market Report: Experian revenue rises as it shrugs off currency woes

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Investors signed up to Experian on Friday as the credit checker shrugged off foreign exchange movements to put on a strong third-quarter performance.

Shares rose 13p to 1145p as the company revealed organic revenues grew 6% over the past three months, better than the 4% predicted by crystal ball gazers at broker Nomura. 

The group, half of whose sales are in the US, reported a 6% rise in American revenues, but adverse currency movements meant revenues elsewhere, including in the UK, retreated.

This was starkly illustrated in Latin America where, if exchange rates had been constant, takings would have grown 7% but instead slumped 29% thanks to the Brazilian real’s collapse against the dollar.

The FTSE 100 ended the week on a downer, falling 42.40 points to 5875.83 after another roller-coaster week caused by volatility in China and the oil price slump — Brent is now below $30 a barrel.


Going down: Brent crude has slumped below $30 a barrel (Picture: Reuters)

Hargreaves Lansdown joined the miners, which rallied yesterday, at the bottom of the blue-chip index. The fund supermarket fell 44p to 1259p as Citi urged clients to sell in the wake of last year’s 51% surge.

Barclays warned that whether or not Argos-owner Home Retail Group strikes a takeover deal with Sainsbury’s, its shares will not rise much further, adding that a possible takeover is “the only thing keeping shares from falling materially”.

They edged up 0.2p to 152.9p, a day after its second profit warning in less than three months and Sainsbury’s slid 3p to 247p.

Morgan Stanley boosted online estate agent Rightmove 51p to 3990p by tipping the shares to touch 4500p. The broker said that as the brand gets stronger, it can charge higher fees.

After last month’s hefty profit warning, over-fifties women’s fashion group Bonmarché, up 8p at 183.5p, managed to avoid a repeat performance as it reiterated annual targets.

Investors switched out of Dialight, down 12.25p at 430.25p after the LED lighting specialist confirmed the oil and gas downturn is affecting US revenues. 


On the up: Roman Abramovich-backed Highland Gold Mining (Picture: Getty Images)

Roman Abramovich’s gold miner Highland Gold Mining welcomed the return of former finance chief Denis Alexandrov, as chief executive. Alexandrov managed the coffers of Mikhail Fridman’s Alfa Group before becoming managing director of the Ukrainian billionaire’s A1 Group.

Shares in Highland, 32%-owned by the Chelsea FC owner, shone 1.25p higher at 56p.

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January 16, 2016 |
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