Highlights
- Total revenue from continuing activities up 16%. At constant exchange rates, revenue from continuing activities up 15%. Organic revenue growth was 10% (excluding discontinued operations). Total Group revenue of US$4.5bn (2011: US$3.9bn).
- Good margin progression. EBIT margin from continuing activities up 50 basis points to 26.2%.
- Total EBIT from continuing operations of US$1,175m up 19%. At constant exchange rates, EBIT from continuing activities up 18%.
- Profit before tax from continuing operations of US$689m (2011: US$656m). Benchmark profit before tax of US$1,128m, up 23%.
- Basic EPS from continuing operations of 66.8 US cents (2011: 49.4 US cents). Benchmark EPS of 78.9 US cents, up 18%.
- Net debt of US$1,818m at 31 March 2012.
- 96% conversion of EBIT into operating cash flow.
- Second interim dividend of 21.75 US cents per ordinary share, to give full-year dividend of 32.00 US cents per ordinary share, up 14%.
In these results, the comparison shopping and lead generation businesses that are held for sale have been treated as discontinued operations and have therefore been excluded (please refer to separate divestment announcement). See Appendix 7 for a comparison of revenue and EBIT growth rates.
Sir John Peace, Chairman, commented:
"In the five years since demerger Experian has delivered significant shareholder value. The business today is strongly positioned, more diverse by geography and by industry vertical and is pursuing numerous growth initiatives. Looking ahead, I am confident Experian can build on this success for all its stakeholders."
Don Robert, Chief Executive Officer, commented:
"Experian delivered premium growth in FY12. We met or exceeded our financial objectives, our growth programme is gaining pace and, through the agreement to divest certain non-core activities, we have further sharpened our strategic focus on data and analytics. For the year ahead, we expect to continue to deliver high quality growth, consistent with our core financial objectives to deliver mid-high single-digit organic revenue growth, maintain or improve margin and deliver cash flow conversion of over 90%."
