Experian 2009 Annual Report Download - page 10

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8Experian Annual Report 2009
Business review
Chief Executive’s review
Don Robert
Chief Executive Ofcer
This performance has been
delivered in a challenging and
uncertain environment, caused by
unprecedented disruption within
the global nancial system. Our
performance is attributable to the
breadth of our business and our ability
to adapt to new market conditions. We
were quick to refocus our organisation
towards changing client needs and
to reduce our cost base. The benets
from our cost efciency programme
are exceeding our plan. We delivered
US$80m of cost savings in 2009, and
today we raise our expectation for total
annualised savings from scal year
2010 onwards by US$20m to US$150m.
Global growth strategy
For now, challenges remain for
some of our clients and in some of
the regions in which we operate.
In the US and UK, lenders remain
focused on account management
and collections and on addressing
costs. More broadly across
these two economies, rising
unemployment is slowing
consumer demand.
However, as the external
environment begins to stabilise,
our strategic focus increasingly
is on nurturing, building and
harvesting growth opportunities
for our business. During 2009, we
invested signicantly in new growth
opportunities, and our plan is to
invest at a similar level in the year
ending 31 March 2010.
Experian performed well in 2009. Our organic revenue growth was 3%,
we expanded our margins by 50 basis points to 23.3% and we delivered
strong free cash ow of US$736m, up 11%. Benchmark EPS grew 8%
to 62.3 US cents per ordinary share and we have raised our full-year
dividend by 8% to 20.0 US cents per ordinary share.