EMEA/Asia Pacific

Sales from continuing activities up 14%; 8% organic
EBIT from continuing activities up 9% at $34m
EBIT margin of 10.7% after investment in infrastructure in Asia Pacific
Good organic sales growth in Credit Services, reflecting strong growth in credit bureaux and contract wins in French business process outsourcing
Strong performance in Decision Analytics, as market penetration deepens

Six months ended 30 September	2007	2006	Growth3	Organic
				growth3
	$m	$m	%	%
Sales
- Credit Services	228	200	7%	6%
- Decision Analytics	56	44	21%	15%
- Marketing Services	33	19	68%	13%
Total – continuing activities	318	263	14%	8%
Discontinuing activities1	8	8	n/a
Total EMEA/Asia Pacific	326	271	13%

EBIT - continuing activities	34	29	9%
Discontinuing activities1	1	-	n/a
Total EMEA/Asia Pacific	35	29	10%

EBIT margin2	10.7%	11.0%


	1	Discontinuing activities include Loyalty Solutions
	2	EBIT margin is for continuing activities only
	3	Growth at constant FX rates

Operational review

EMEA/Asia Pacific delivered a good performance, reflecting strength in credit bureaux activities and good progress in Decision Analytics, particularly in Eastern Europe and Asia Pacific. Experian continues to invest in the region to drive future growth.

Credit Services

Includes consumer credit bureaux in ten countries, business information bureaux in four countries and transaction processing in France

Experian’s focus on geographic expansion continues to bear fruit, with very strong credit bureau performances, particularly in Southern and Eastern Europe. Credit Services sales grew by 7% at constant exchange rates over the year, with organic growth of 6%. The acquisition contribution is primarily from the business and consumer credit bureau in Estonia acquired last year, which is performing to plan. During the period Experian also agreed the sale of Loyalty Solutions in Germany.

Transaction processing, which accounts for nearly two thirds of Credit Services sales in EMEA/Asia Pacific, performed well over the period, as growth in business process outsourcing offset softness in cheque processing. There were several major client wins in the first half, including Carrefour and Credit Lyonnais.

Decision Analytics

Includes credit analytics, decision support software and fraud solutions

There was strong momentum in the period in Decision Analytics, reflecting increased penetration of Experian’s existing customer base and new client wins. Total sales growth was 21%, with organic sales growth of 15%. The acquisition contribution relates to Tallyman.

There was good progress in Continental Europe in core markets for Experian such as Italy and Spain. Meanwhile in Germany, which is a development market for Experian, there was a significant client win from Metro Group, the international retailer. There was also excellent progress in Asia Pacific, with a number of wins in key markets, such as Rakuten KC, the credit card division of the Japanese internet services company, as well as a major financial institution in Australia.

Marketing Services

Includes digital services, business strategies, internet marketing intelligence and data integrity

Sales increased by 68% in the period, with organic growth of 13%. The acquisition contribution relates principally to Emailing Solution (acquired in May 2007), which extends Experian’s digital services capability in Continental Europe, and Hitwise, largely in Asia Pacific. Organic sales growth reflects strong performances in digital integrity and business strategies, which secured wins for FootFall and Mosaic.

Financial review

Sales from continuing activities were $318m, up 14% at constant exchange rates compared to the same period last year. Organic growth was 8%.

EBIT from continuing activities was $34m, up 9% at constant exchange rates, giving an EBIT margin of 10.7% (2006: 11.0%). Margin dilution principally reflects increased investment in Asia, including India, partially offset by a favourable contribution from acquisitions.