Experian drops more than 7% yesterday as the market discounts their slowing growth attributed to their connectivity and revenue reliance on credit troubled US, UK, and Ireland markets.

Interestingly, Experian quickly and specifically lays the slowing growth at the feet of LowerMyBills:

The group said that in the six months to the end of September, its revenues from continuing businesses, at constant exchange rates, rose 6 per cent. However, the figure would have been 2 percentage points higher, Experian said, but for the fall in revenues at LowerMyBills, its US subsidiary which provides leads to subprime mortgage lenders.

In July, Experian said that LowerMyBills’ revenues fell 20 per cent in the first quarter, after an 8 per cent decline in the previous quarter, but it expected that to be the low point for the business.

This subsequent statement may explain reports that Experian has swooped in to the once hot start-up and is reengineering:

Don Robert, Experian’s chief executive, said that "while the revenue environment is tougher, we remain focused on delivering profit in line with our expectations for the year as a whole."

Maybe the dancing office workers didn’t work?

Tags: experian, lowermybills, stocks, expn, mortgage, market, lead generation