LONDON (Alliance News) - Equiniti Group PLC said Thursday it expects its 2018 financial results at the "upper range of market expectation" as revenue momentum continued in the second half.
Shares in Equiniti, which provides financial administration services, were trading up 3.2% at 227.10 pence, one of the top gainers in the FTSE 250 index
Currently, according to Equiniti, the market expects annual revenue between GBP491.0 million and GBP505.0 million and adjusted earnings before interest, taxes, depreciation and amortisation between GBP118.0 million and GBP123.0 million.
In 2017, Equiniti's revenue came in at GBP406.1 million and adjusted Ebitda was GBP98.5 million.
For the period from July 1 to November 21, the company said its performance had been "encouraging" with continued organic revenue growth.
For the first half to the end of June, Equiniti posted revenue up 30% to GBP254.0 million. Pretax profit was down to GBP3.7 million from GBP8.5 million, dented by acquisition costs.
Equiniti expects to publish its annual results for 2018 on March 12.