CPU 1H FY25 Half Year Report (Appendix 4D)

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Stock Computershare Ltd (CPU.ASX)
Release Time 11 Feb 2025, 5:04 p.m.
Price Sensitive Yes
 CPU 1H FY25 Half Year Report (Appendix 4D)
Key Points
  • Revenue from continuing operations increased 6.4% to $1,498.8 million
  • Profit after tax from continuing operations up 24.9% to $286.5 million
  • Interim dividend of AU 45 cents per share announced, unfranked
Full Summary

Computershare Limited reported a 6.4% increase in revenue from continuing operations to $1,498.8 million for the half-year ended 31 December 2024, driven by higher core fees, event and transactional revenue. Profit after tax from continuing operations increased 24.9% to $286.5 million, primarily due to the revenue growth across the company's key business lines - Issuer Services, Corporate Trust, and Employee Share Plans. Margin income was marginally lower due to the impact of lower interest rates, partially offset by higher balances. Total expenses from continuing operations were $43.9 million higher (4%), mainly due to increased operating expenses to support higher business volumes, costs associated with the Solium UK acquisition, and higher restructuring costs. The company's effective tax rate from continuing operations decreased to 23.4% from 28.4% in the prior period, primarily driven by a change in the US State Income Tax mix following the sale of the US Mortgage Services business. Computershare announced an interim dividend of AU 45 cents per share, unfranked, for the half-year ended 31 December 2024.

Guidance

Computershare Limited reported a 6.4% increase in revenue from continuing operations to $1,498.8 million for the half-year ended 31 December 2024.