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Trading statements

Equiniti in line with expectations

25 April 2017 09:41

Equiniti has started the year well and the board is confident of delivering full-year results in line with market expectations, shareholders at the annual general meeting will be told.

An update said: "The group continues to grow through business won both from existing and new clients.

"The length and diversity of our client relationships is a key differentiator of our business and we have continued to retain 100% of our clients.

"We have renewed or extended relationships with clients such as Santander, Imperial Brands, National Express, TalkTalk and most recently, our relationship with the NHS, a client of the Group since 1948.

"New client wins have also been encouraging and we are pleased to have secured new clients across all of our divisions including Sainsbury's, House of Fraser and a partnership with Aon Hewitt."

Looking ahead it said: "Our objective remains to deliver organic growth supplemented by growth from capability enhancing acquisitions each year. The dependability of our revenues, the platform nature of our operations and progressive deleveraging will enable us to grow profits and earnings ahead of revenue.

"We continue to make progress against this strategy with multiple opportunities for future growth."

Chief executive Guy Wakeley said: "Equiniti's continuing leadership in its target markets is underpinned by the quality of our teams and our proprietary technology, and increasingly evidenced by new outsourcings and wins from our competitors.

"Our strategy of specialism and focus allows us to grow market share whilst building resilience and presents multiple opportunities for future growth."

At 9:41am: (LON:EQN) Equiniti Group Plc share price was +3.88p at 212.13p

Story provided by StockMarketWire.com

Related Company: EQN

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