Computershare has reported a 40 per cent drop in profit, the print and mail giant’s net profit dropped to $156.5m for the twelve months to June 30, 2012, down from $264.1m last year.
The company cites a lack of merger and acquisitions and other corporate activity as the reason for the profit slump. The fiscal year result included $63m of impairment charges for its business in continental Europe, which was flagged in June.
Stuart Crosby, CEO and president, Computershare says “We do not expect material improvement to the current difficult operating environment for our market related businesses. However, we do expect continued strong contributions from recent acquisitions.”
Computershare has production centres in Melbourne and Sydney using high speed inkjet webs, and has operations in twenty countries and specialises in managing the share registries of listed companies.
Crosby says “The group remains well placed to befit from any improvement in corporate activity and interest rates in our major markets, however we are not banking on this occurring in any significant way in the 2013 fiscal year.”
Computershare’s final dividend of 14c for the year ended June 30, was unchanged from the previous year.