Share registry forecasts 14.3% profit fall

Advanced Share Registry has estimated its profit it will decrease by around $350,000 this financial year, which it said is partly due to a reduction in corporate activity.

In a statement, the Nedlands-based company forecasted its profit for the year ending June 30 will be approximately $2.1 million, compared to $2.45 million in the prior corresponding period.

“The decline for the year reflects a reduction in corporate actions and activity generally,” the company said.

To date this year, only two WA-based exploration companies have listed on the ASX.

The ASX-listed company also said the profit reduction was due to increased business development costs, principally costs for its Private Company Platform (PCP) business.

PCP operates a digital platform provides unlisted companies services such as managing an expanded share register, share facilitation, shareholder engagement and market profiling.

Advanced Share said it intends to pay a fully franked final dividend from its profits ending June 30, and the amount paid will be finalised as the final profit figure is confirmed.

Shares in Advanced Share are currently in a trading halt at 70 cents each.