Link Administration Holdings revises profit guidance

Company News

by Katrina Bullock

Link Administration Holdings (ASX:LNK) revised its guidance for the full year ending 30 June 2019.

It expects Operating EBITDA to be approximately $350 to 360 million - an increase on the $335.3 million EBITDA achieved in the 2018 financial year.

Operating net profit after tax and amortisation is expected to be between $195 and $205 million which would be a slide from the $206.7 million we saw in the 2018 financial year.

They attribute the change to a number of factors including a lack of finality regarding the Brexit outcome in the UK, regulatory change in the superannuation sector and ongoing additional costs associated with the remediation of the client migration activity in 2018.

Their final results will be subject to the external audit of the FY2019 financial statements. 

Shares in Link Administration Holdings (ASX:LNK) are trading 18.81 per cent lower at $6.30.

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