REPORTING SEASON: Computershare (CPU)
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Figure 1: CPU 12 month chart
The world’s biggest share registry, Computershare (CPU) missed consensus with a 9.2% slump in its full year profit to $157m.
Earnings were driven by its US acquisitions (Shareowner Services & Specialized Loan Servicing) rather than from its core business.
In the current environment of cautiousness, profitability remains a challenge (the more corporate actions & M&A – the better).
CPU maintained its $0.14/s dividend (20% franked) & will be paid to eligible shareholders on 17 Sept.
Looking ahead, CPU expects 5% growth in its Earnings Per Share (EPS) over 2014. It anticipates substantial synergies from recent purchases.