Computershare has sold one of its businesses in the United Kingdom to interests associated with its chairman Chris Morris for STG400,000 ($A624,951).

The sale comes just a few days after the share registry group said Europe’s financial crisis had impacted its earnings and growth expectations for its businesses in the region.

Computershare said on Friday it had identified its Flag Communication business, which it acquired in September 2004, as a non-core asset in a recent review of its businesses.

Flag specialises in employee communications for the top 250 companies on London’s stock exchange.

“While the transaction is very small, because of the relationship between the company and Mr Morris, the transaction was considered and approved by the Computershare board,” the company said in a statement.

Mr Morris was absent when the board decision was made, it said.

Computershare will take a pre-tax impairment charge of up to $US65 million ($A66.17 million) on its European operations in the second half of the 2011/12 financial year.

But Computershare has said it still expects earnings per share for the full financial year to be down 10 to 15 per cent from the previous financial year’s 47.53 cents.

The company’s shares lost 23 cents, or 2.95 per cent, to $7.57 at the close of trade on Friday.