Iress FY profits and revenue both increase
25 February 2016 | 1420 views | 0
IRESS Limited today announced statutory net profit for the 12 months to 31 December 2015 of $55.4 million, up 9% over the prior year.
Segment Profit, a measure of core underlying performance, was $119.2 million, up 7% on the prior year.
IRESS chief executive officer, Andrew Walsh, said: “This is a solid result and reflects strong performances in the United Kingdom, Australia & New Zealand and South Africa, particularly in the second half. IRESS’ financial performance during 2015 was underpinned by quality, predictable revenue and supported by focused delivery to new and existing clients.
“During the second half, prior investments by IRESS have translated into strong revenue growth. In particular, we have seen growing momentum in our United Kingdom business in wealth management and lending. Australia & New Zealand performed strongly with double-digit growth in wealth management and, in our financial markets business, run-rate revenue exceeded levels in the prior year, despite client-specific impacts in Australia in the first half.
“The overall result was positively impacted by the acquisitions in the United Kingdom of Proquote and Pulse Software Systems. These strategic acquisitions add capability, scale and new client opportunities.”
On a constant currency basis, and excluding the contribution from acquisitions, Segment Profit growth in 2015 was 3%. On the same basis, Segment Profit growth in the second half was 4% compared with the first half.