Source - SMW
Payments specialist Equiniti said it expected full-year underlying earnings to be towards the lower end of market expectations due to weaker higher-margin UK corporate activity.

Revenue, however, was expected at the upper end of expectations.

Market expectations for underlying earnings was in a range of £136m to £142m and revenue in the range of £550m to 567m.

After completion of a US separation in the first half of 2019, there were no further non-operating charges in the second half of the year, the company said.

'Operating cash conversion is expected to be comparable to that of the first half of the year with leverage at or slightly above the higher end of the range of market expectations due to timing of business in the fourth quarter,' it added.

At 9:13am: (LON:EQN) Equiniti Group Plc share price was -19.9p at 207.5p

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