25 Apr 2017 07:00
25 April 2017
EQUINITI GROUP PLC - AGM AND TRADING UPDATE
Equiniti Group plc ("Equiniti" or "the Group"), the 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 2017.
TRADING
The year has started well and the Board is confident of delivering in line with market expectations for full year 2017.
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.
OUTLOOK
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.
Commenting on the Group's results, Guy Wakeley, Chief Executive, 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."
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.