Computershare says growth likely to slow
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.
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