Computershare Limited (ASX:CPU) has blamed tough and volatile markets for an expected 15 per cent fall in its first half earnings.
Updating investors at its annual general meeting today, the company revealed most of its business services revenue lines are holding up well but traditionally recurring revenue lines are suffering from low levels of activity.
Earlier this week Computershare announced US regulators have granted the share registry approval to acquire Bank of New York Mellon's investor-services business for $US550 million.
Computershare expects $US70 millionin synergies from the acquisition after three years.
In the 2011 financial year Computershare’s net profit dropped 10 per cent to $250 million.
