Computershare have reported results that have come through in line or slightly below expectations

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Computershare have reported results that have come through in line or slightly below expectations. The Company has raised guidance by 5 - 10% for the full year compared to late 2013, however, low interest rates in the US continue to put pressure on margins. CPU derives revenue through corporate activity such as IPO's and M&A activity. Commentary from CPU and also from Macquarie indicates that these markets remain patchy and as such earnings growth is yet to flow through to the businesses. Alex Leyland, Leyland Private Wealth, says one of the positives has been the cost efficiencies and savings that have been achieved. A tricky environment is forcing these businesses to achieve synergies and focus on cost outs. This will provide good leverage when conditions improve and support earnings growth. CPU has also announced a transition of leadership with CEO Stuart Crosby stepping down on June 30.

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