Experian ramps up in Australia
The credit reporting and data analytics company Experian reports that it is making progress in Australia, with the "ramp-up" of a new credit reporting service.The company released the half-year financial report for its global operations earlier this month, which reported losses in its Asia-Pacific businesses.Experian said it now had a new leadership team in the region and was focusing its operations so as "to pursue those opportunities with the highest growth potential."The group as high hopes for the Australian market, where it has operated a data analytics business for some time. This year it started a credit reporting business in anticipation of changes to the credit reporting rules next year.Experian offers credit reporting services in a number of markets and believes it will have a competitive advantage when the new comprehensive reporting rules come into play.Total group revenue for the six months to September was US$2.3 billion - unchanged from the previous corresponding period. Net profit was US$336 million.The Middle East, Africa and Asia-Pacific division lost US$10 million.The most recent financial report that Experian Australia filed with the Australian Securities and Investments Commission was for the year to March 2012. It showed a net profit of A$496,635, after the company lost A$4.8 million in 2010/11.For the 2011/12 year, the company made an operating loss but was able to report a profit after using previously unrecognised tax losses.