EQN.L Regulatory News (EQN)

Equiniti Group plc

Incorporated in England and Wales

Registration number: 07090427

LEI: 213800TS721HGE2JIV94

ISIN: GB00BYWWHR75

22 November 2018

EQUINITI GROUP PLC - TRADING UPDATE

Equiniti Group plc ("Equiniti" or "the Group"), the multinational technology and payments specialist, today issues the following trading update for the period 1 July 2018 to 21 November 2018.

TRADING

The Group's performance in the period has been encouraging with organic revenue momentum continuing into the second half. Accordingly we expect 2018 full year results to be at the upper range of market expectations, with continuing revenue tailwinds.

In the UK, the Group has continued to build upon the momentum established in the first half of the year, with a pleasing level of new client wins, including fifteen registration transfers over the last twelve months, and encouraging new name wins in the United States. The Group continues to be the registrar and share plan provider of choice for UK main market IPOs, with new mandates including Aston Martin, Avast and Funding Circle.

Additionally, we have continued to retain and develop our strong client relationships, both in the UK and the US, and have extended the existing relationship between MyCSP and the Civil Service, the Group's largest contract, until the end of December 2021.

The integration of our US business is proceeding in accordance with guidance, with trading and profitability accelerating in the second half of 2018.

OUTLOOK

We remain confident in our ability to grow sustainably in the UK where we have a differentiated business underpinned by dependable revenues from many blue chip clients. Our first 9 months of trading in the US have reaffirmed our investment case, the strength of our franchise and presented significant opportunities for us to leverage our core strengths and grow market share, whilst adding value for clients through the cross-sell of EQDigital services.

Our objective remains to deliver sustainable organic growth whilst maintaining our disciplined focus on regulation and payments. The dependability of our revenues, the platform nature of our operations and the differentiation of our technology counter the uncertainties in our operating environment.

We continue to make progress with our strategy, have the resources, technology and specialists to respond to opportunities as they emerge, and see multiple drivers of growth for the future.

2018 market expectations*

Revenue : £491 - £505m

Underlying EBITDA : £118 - £123m

*Source: Company Compiled

FINANCIAL CALENDAR

12 March 2019 Full year results announcement

2 May 2019 AGM and trading update

2 August 2019 Interim results announcement

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.