Computershare FY18 profit rises 12.6%

Company News

by Anna Napoli

Computershare (ASX:CPU) has reported its net statutory profit after tax (NPAT) rose about 12.6 per cent on FY17 to $300 million for the 2018 financial year. The result was in line with UBS expectations.

In more good news for the share registry company, its revenue strengthened over the 2018 financial year, and lifted 6.3 per cent on FY17 to $2.25 billion.

Its earnings before interest and tax depreciation and amortisation (EBITDA) increased over 12.7 per cent on the prior year, to $609.7 million.

The company declared a final dividend of 21 cents per share.

Computershare says the increase in net profit was supported by higher margin income and an improved operating performance in the US with growth in US mortgage services and solid event activity in class actions, corporate actions and stakeholder relationship management.

Shares in Computershare (ASX:CPU) are trading 1.10 per cent higher to $18.42