February 9, 2010
Computershare Limited (CPU) anticipates earnings per share growth for FY10 of between 10% and 15% after first-half profit rose 29.8% to $169.9 million. The company said there was no certainty that some of the larger transactions behind the strong first half result would be matched in the second half and that over the past few years 1H has been stronger than 2H.
Computershare said Management Adjusted Earnings per Share of 31.38c for the first half was a 20% increase over the prior corresponding period (“pcp”).
Revenue increased 3% on the pcp to $807.5 million and operating cash flows grew 29% to $206.7 million.
The company also declared an interim dividend of 14c, up from 11c.
CEO, Stuart Crosby, said IPO activity replaced the anticipated declines in secondary market capital raisings, while low interest rates continued to dampen margin income revenues.
”Our continual focus on costs has helped increase operating margins and cash flow generation remains very healthy,” Mr Crosby said.
”Recent key acquisitions have met high expectations during the period and to some extent reduced the influence of equity market cycles on the consolidated result.”
As at 1026 AEDT, Computershare shares were down 12c to $11.83.
January 17, 2010
IRESS Market Technology Limited (IRE) this morning announced its newly created Singaporean subsidiary IRESS Market Technology (Singapore) Pte Ltd, had purchased SENTRYi as it looks to increase its presence in the Asian wealth management market.
IRESS said the price paid for SENTRYi, which provides investment planning software across the Asian marketplace, was performance related with just 1.296 million Singaporean dollars ($1 million) paid upfront.
The remainder will be paid depending on the software meeting targets, however would not exceed $1 million per year. The company said the final figure might not be known for around 3 years.
Meanwhile, in the broader Asian market, IRESS said it would cap investments in the region to no more than $2 million per year.
The board also reaffirmed its ‘long standing’ policy of paying around 80% of underlying group profit as dividend.
At the close Friday, IRESS shares were $8.78 each.
October 26, 2009
Computershare Limited (CPU) said it has agreed terms for the acquisition of UK based employee share plans provider HBOS Employee Equity Solutions from Lloyds Banking Group for GBP 40 million. The Australian transfer agency and share registration company said the acquisition was expected to be completed in December 2009, subject to regulatory approval.
Computershare said HBOS EES has revenue of about GBP 25 million and provides services in over 100 countries for over 400 clients, covering around 1 million employee shareholders.
The company said the acquisition would be funded by cash and existing debt facilities and is expected to be EPS positive in FY11 and increasingly accretive thereafter.
Computershare’s president and CEO, Stuart Crosby, said the company was confident that its new clients would experience enhanced service.
The company said Martyn Drake, managing director of Computershare’s UK Employee Share Plan business, would manage the integration of HBOS EES.
At the close of trade Monday, Computershare shares were trading at $10.89.