StockMarketWire.com - Equiniti Group reported Tuesday flat annual profits even as revenue topped guidance, and the company offered a downbeat outlook on future performance warning that uncertainty in the operating environment would continue.

For the 12 months ended 31 December, profit before tax slipped to £24.6m from £25.3m a year earlier. Revenue rose 30.7% £530.9m and earnings (EBITDA) rose 24.5% to £122.3m.

The company in November guided full-year revenue at the upper end of the range of £475.0m to £499.0m and underlying earnings (EBITDA) at the upper range of £116.0m to £122.9m.

Revenue growth was driven by the acquisition of EQ US and strong organic revenue growth of 7.3%.

The company declared a final dividend of 3.49 pence per share, giving a total dividend for the year of 5.32 pence per share with growth of 21.7%, in line with progressive dividend policy.

The company left its medium term guidance unchanged, but said it expected the uncertainty in the operating environment to continue.

'We expect further organic growth in the UK, as we build on our relationships with our exceptional client base,' said Guy Wakeley, Chief Executive.

'The US offers a platform for accelerated growth based on market opportunity, the potential to take market share and the opportunity to cross-sell digitised services into our blue-chip client base. Where appropriate, we will supplement our organic growth with capability-enhancing acquisitions.'




At 8:38am: [LON:EQN] Equiniti Group Plc share price was -28.9p at 174.1p



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