MELBOURNE: Australia’s Computershare Limited (CPU.AX) said on Thursday it has agreed to sell its UK Mortgage Services business to credit management firm Pepper Advantage, as part of a strategy to simplify its operations and improve earnings quality.
The share registry giant expects the transaction to close in the third quarter of its 2026 fiscal year, pending regulatory approvals. Financial terms of the deal were not disclosed.
Computershare Chief Executive Stuart Irving said the sale to Pepper Advantage, which has “strong mortgage industry credentials,” provided certainty for the business’s customers. The move marks a key step in the company’s plan to streamline its portfolio.
The sale is not anticipated to affect the company’s fiscal 2026 earnings per share (EPS) guidance of around 140 cents, which was provided in August. However, Computershare expects to book a one-off, non-cash statutory pre-tax loss on the sale of between £35 million and £40 million, related to foreign currency translation reserves and goodwill.
The company emphasized that this impairment does not impact its underlying performance or cash flow.
Pepper Advantage, the acquiring company, is an international credit manager with $55 billion in assets under management across Asia, Europe, and the UK.