John Peace, Chairman of Experian, said:
“Experian has made an excellent start in its life as an independent company. Over the past year, we have made progress strategically and operationally, while delivering a fifth consecutive year of double-digit sales and EBIT growth.”
Commenting on the performance of Experian, Don Robert, Chief Executive Officer of Experian, said:
“Looking forward, while we face some specific market challenges, the strength of our portfolio of businesses underpins our confidence for the current year and beyond. We remain focused on delivering organic sales growth, improved margins and strong cash flow. For the current year as a whole, we expect to deliver organic sales growth at a mid to high single-digit rate, with some acceleration as we move into the second half.”
On 10 October 2006, the separation of Experian and Home Retail Group was completed by way of demerger. As part of this transaction, Experian Group Limited became the ultimate holding company of GUS plc and related subsidiaries. Experian Group Limited has accounted for its insertion at the top of the group in accordance with the principles of merger accounting. As a result of the demerger, there are a number of presentational changes to the financial information as previously reported in the prospectus dated 14 September 2006 and the interim results released on 21 November 2006. The principal change relates to the net interest expense.
In summary, the financial information is prepared on the following basis:
See Appendix 2 for definition of non-GAAP measures used throughout this announcement and Appendix 3 for reconciliation of sales and EBIT by geography.
Certain financial data has been rounded within this announcement. As a result of this rounding, the totals of data presented may vary slightly from the actual arithmetic totals of such data.
|Don Robert||Chief Executive Officer||020 3042 4215|
|Paul Brooks||Chief Financial Officer|
|Nadia Ridout-Jamieson||Director of Investor Relations|
|Rollo Head||020 7251 3801|
There will be a presentation today at 9.30am to analysts and investors at the Merrill Lynch Financial Centre, 2 King Edward Street, London, EC1A 1HQ. The presentation can be viewed live on the Experian website at www.experiangroup.com and can also be accessed live via a dial-in facility on 44 (0)20 8322 2180. The supporting slides and an indexed replay will also be available on the website later in the day.
There will be a conference call to discuss the results at 3.00pm today with a recording available later on the website. All relevant Experian announcements, including an updated version of “Explaining Experian”, are also available on www.experiangroup.com.
Experian will update on trading on 12 July when it will issue the Interim Management Statement in respect of the First Quarter. Its AGM will be held in Dublin on 18 July 2007.
Certain statements made in this announcement are forward looking statements. Such statements are based on current expectations and are subject to a number of risks and uncertainties that could cause actual events or results to differ materially from any expected future events or results referred to in these forward looking statements.