Experian weathers UK slowdown

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Shares in UK financial data firm Experian have risen more than 8% after it unveiled better-than-expected sales.

The Nottingham-based firm said organic sales in the six months to March rose 2%, against expectations of 1% growth.

There were worries that the credit crunch would mean fewer banks would use Experian's credit checks, but the firm said there was only a marginal impact.

Rising demand for Experian's business information services and expansion abroad helped to lift sales.

Sales in Latin America rose to $221m (£112m), from $3m in the previous year.

Experian chief executive Don Robert said he was "confident about the outlook".

"Looking ahead, we expect good performances in new geographies and across many business lines," he added.

The Nottingham-based firm, which employs more than 2,000 people in the city, is looking at ways to cut costs by $80m as a result of the adverse credit conditions.

In morning trade, Experian shares were up 30.5p, or 8.6%, at 386.5p, although some analysts remained cautious about the outlook for the firm.

Citigroup analysts said "earnings risk remains on the downside", despite Experian's diversification away from consumer credit checks in Britain.