- Services and payments group Equiniti Group saw profits swell in the first half of the year even as weakness in its pension solutions business held back revenues.

For the six months ended 30 June 2019, pre-tax profits jumped 222% to £11.6m as revenues gained 8.3% to £275.1m.

Strong organic revenue growth of 10.7% in EQ US, 7.2% in Intelligent Solutions and 5.0% in Investment Solutions offset by 8.6% decline in Pension Solutions, the company said.

The company said actions to reduce marginal costs and plans to improve performance underpinned its confidence in the delivery of market expectations for the full year.

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