Local Computershare operations contribute to profits

Profit rises 11 per cent

Computershare (ASX:CPU) has announced its full year profit results for the financial year ended June 30 with revenue growth of seven per cent.

Its net profit after outside equity interest (OEI) was $321 million. Earnings before interest, tax, depreciation and amortisation (EBITDA) rose seven per cent to $321.2 million.

In its announcement to the ASX, the share registry and financial technology services company said that the result was assisted by higher corporate actions in the first half, full year contributions from recent acquisitions and growth of non-equity related services.

On a regional level, the company reported that high levels of corporate actions in the first half ensured the Australia and New Zealand region achieved an improved result.

Overall revenue increased 13.5 per cent to $335.3 million, delivering 14 per cent of the consolidated EBITDA, helped by a strengthening Australian dollar.

The company also runs operations in the US, Canada, Asia and EMEA.

Computershare chief executive, Stuart Crosby, said its full year results continue a great run for the company through a period of difficult economic conditions but he also said the immediate future presents challenges.

“Subdued transactional revenues, continued revenue pressure from lower interests rates and a range of cost catchups are ahead," he said. "We anticipate management earnings per share being 5 per cent to 10 per cent lower in FY2011.”

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