Sydney - Tuesday - November 11: (RWE Aust Business News) - Computershare (ASX:CPU) said its July to September EBITDA was slightly ahead of budget but that pre-dated the foreign exchange volatility. The company is still expecting about 10pc underlying business growth for the year with a strong performance from Busy Bees voucher administration business offsetting weakness in VEM, Indian mutual funds and HK IPOs, chief executive Stuart Crosby told the AGM. EBITDA margings are expected to say around 30pc. A negative full year impact of hedge slippage is also expected and the stronger US dollar will hurt US dollar denominated earnings. "We expect USD management earnings per share for financial year 2009 to be about the same as last year, perhaps marginally behind," Mr Crosby said. He said, while this may be lower than prior guidance, the difference does not stem from business performance but is fully accounted for by the impact of foreign exchange rate fluctuations and interest rate hedge slippage. "While our USD guidance is now flat, full year AUD EPS guidance at current exchange rates is now about 25pc up on last year," he said.
CPU Price at posting:
$7.34 Sentiment: None Disclosure: Not Held
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