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Equiniti Makes Good Start To 2019, Confident Of Meeting Expectations.

LONDON (Alliance News) - Equiniti Group PLC said on Thursday it has started the year well, and is confident of meeting its 2019 expectations.

The financial and business administration outsourcer said its "blue-chip client base remains high" and all renewed relationships have been continued, including Associated British Foods PLC, M&G Prudential - Prudential PLC's European unit - US telecommunications giant Comcast Corp, and

consumer goods firm Procter & Gamble Co.

"There have also been encouraging new client wins in the period and we are pleased to have secured new mandates across all of our divisions including National Grid PLC, Danske Bank AS and DWF Group PLC in the UK, and Wabtec Corp and Cincinnati Financial in the US, along with a number of significant wins in our Pension Solutions business," said Equiniti.

Equiniti said trading the US has been "pleasing". The integration of recent acquisition Wells Fargo Shareowner Services is "proceeding in accordance with previous guidance" and Equiniti expects full separation from Wells Fargo & Co by June.

"Equiniti's specialist and non-discretionary services are largely insulated from the continuing uncertainty in the macro-economic environment and our expectations for full year 2019 remain unchanged," the company said.

In 2018, Equiniti reported pretax profit of GBP20.7 million on revenue of GBP530.9 million.

Shares in Equiniti Group were up 0.9% Thursday at 217.00 pence each.

By Paul McGowan;

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Publication:Alliance Newswire
Date:May 2, 2019
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