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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.

 

You can see all of CommSec’s reporting season analysis by clicking here.

Steven Daghlian, Market Analyst,