Iress reports growth in revenue and profits

Source: Iress

IRESS Limited (ASX.IRE) today announced a statutory net profit for the 12 months to 31 December 2016 of $59.5 million, up 7% over the prior year.

Operating revenue increased 8% to $389.7 million. On a constant currency basis, this is an increase of 13% on 2015 (12% excluding 2016 acquisitions). Segment Profit(2), a measure of IRESS’ core underlying performance, was up 4% to $123.5 million. On a constant currency basis, this is an increase of 7% on 2015 (6% excluding 2016 acquisitions).

IRESS Chief Executive Officer, Andrew Walsh, said: “IRESS’ strong underlying result reflects our continued strategic and focused approach to service and growth. We are particularly pleased with strong performances in Australia, the United Kingdom, and in South Africa.

“The result positively reflects past investments we have made in designing, developing and delivering solutions to meet our clients’ needs. We are committed to ongoing investment and innovation to ensure the technology and product solutions we offer continue to lead the markets in which we operate.

“The integrations of businesses acquired during 2016 in South Africa and Australia (INET BFA and Financial Synergy respectively) are progressing well and both businesses contributed positively to the result. These acquisitions are providing new and scaled opportunities for IRESS in broader segments.”

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