Iress H1 profits down ten percent year-on-year
17 August 2017 | 4821 views | 0
IRESS today announced a statutory net profit for the six months to 30 June 2017 of $29.5 million, up 10% over the prior half (six months to 31 December 2016) and down 10% over the previous corresponding period (six months to 30 June 2016).
In IRESS’ Asia-Pacific business, which includes Australia, New Zealand and Asia, operating revenue and direct contribution increased 11% and 7% on the previous half, reflecting underlying strength and contribution from Financial Synergy, acquired in November 2016.
IRESS chief executive, Andrew Walsh, said underlying strength and business performance reflected continued demand for IRESS products, investment in product development, and delivery to clients.
“Continued investment in our software products and solutions has been a major focus in 2017, with a range of additional benefits already released and more planned during the second half of the year. We are particularly focused on further improvements in user experience, with a dedicated and growing user experience team.
”During the half we delivered ViewPoint, our next generation active online market data and trading platform to nabtrade, and we continue to experience growth in demand for portfolio management products from buy-side clients. In addition, we released significant upgrades to IRESS Pro, our global market information platform for institutional and retail brokers, investment managers and advisers.
“Our continued investment in market data and trading infrastructure and features plays an important role in meeting the needs of financial markets participants in addition to our integrated product strategy and offering, which brings together wealth management and trading solutions.
“Our scaled-advice solution, XPLAN Prime, is now available in market. This week we announced ClearView was adopting Prime to enable advisers to deliver advice to their clients more efficiently.
“We are experiencing growth in superannuation technology, with increased investment in our Acurity platform. During the half, we deployed an IRESS-hosted and managed Acurity platform to a state-based superannuation fund. This solution allows funds to remain focused on the needs of their members rather than their technology, and also provides a more predictable, transparent cost structure for trustees.
“We also recently completed delivery of an integrated online advice solution bringing together the capabilities of Acurity online member portal and XPLAN, which is generating strong interest.”