Profits rise for Experian with money-saving tools

Credit data firm Experian has seen its revenues rise as it revealed more customers are using analytics to show the impact of higher energy bills on households.

The firm reported a 7% increase in ongoing revenue for the first half of the financial year, from 3 billion US dollars (£2.5 billion) last year to 3.2 billion US dollars this year (£2.7 billion).

The FTSE 100-listed company, which provides credit checks for businesses and consumers, said sales were driven up by new products, new clients and an expansion of its consumer base.

It also reported rising profits, with benchmark earnings reaching 881 million US dollars (£738 million), up 8% from 813 billion US dollars (£681 million) this time last year.

Experian said it has a “key role” to play in helping communities deal with cost-of-living pressures because it gives people and businesses the tools to manage their finances and save money.