3 May 2018 07:00
3 May 2018
EQUINITI GROUP PLC - AGM AND TRADING UPDATE
Equiniti Group plc ("Equiniti" or "the Group"), the multinational specialist technology outsourcer providing non-discretionary payment and administration services, is holding its Annual General Meeting today and is issuing the following trading update covering progress to date in 2018.
TRADING
2018 has started well, building on the momentum established in the prior period, continuing the growth of revenues from new and existing clients, and creating good visibility of market expectations for the full financial year.
The fidelity of our blue-chip client base remains high and all renewing relationships have been continued, including clients such as DMGT, First Group, Gresham, QinetiQ and Unilever. There have also been encouraging new client wins in the period and we are pleased to welcome Bodycote, Hiscox, Low & Bonar, Rentokil and Surrey & Sussex Police to the Group, along with CPS and Mastercard in the United States.
Our success at winning new mandates continues with appointments from c.80% of newly listed companies in the UK year to date, including Acacia Pharma, GRC International, IntegraFin Holdings and TruFin. We are also pleased to have commenced a number of major remediation projects for a leading UK bank.
The acquisition of the Wells Fargo Shareowner Services business (EQ by Equiniti) completed on 1 February 2018 as planned, with year to date performance in line with expectations. The integration programme is on track and the migration of clients to our proprietary platform is scheduled to commence in Q3 2018.
OUTLOOK
Our strategy of deep specialism in regulated services is delivering, and our expectations for 2018 remain unchanged.
For further information please contact:
Analyst/Investor enquiries:
Equiniti Group plc Guy Wakeley, Chief Executive +44 (0) 207 469 1811
John Stier, Chief Financial Officer Frances Gibbons, Head of Investor Relations
Media enquiries:
Temple Bar Advisory Alex Child-Villiers + 44 (0) 7795 425580Will Barker + 44 (0) 7827 960151
Forward-looking statements
This announcement contains forward-looking statements regarding Equiniti. These forward-looking statements are based on current information and expectations, and are subject to risks and uncertainties, including market conditions and other factors outside of Equiniti's control. Readers are cautioned not to place undue reliance on the forward-looking statements contained herein, which speak only as of the date hereof. Equiniti undertakes no obligation to publicly update any forward-looking statement contained in this release, whether as a result of new information, future developments or otherwise, except as may be required by law.