Statutory net profit for the six months to 30 June 2016 of $32.7 million, up 22% over the prior half (six months to 31 December 2015) and up 15% over the previous corresponding period (six months to 30 June 2015).
Operating revenue increased to $194.3 million. On a constant currency basis, this is an increase of 8% on the prior half and 14% on the previous corresponding period.
Segment Profit, a measure of IRESS’ core underlying performance, was $63.1 million. On a constant currency basis, this is an increase of 6% on the prior half and 11% over the previous corresponding period.
IRESS Chief Executive Officer, Andrew Walsh, said: “Our core businesses have performed well in the first half of 2016. We continue to experience strong levels of demand for IRESS solutions particularly in Australia, the United Kingdom and South Africa”.
The integrations of recently acquired businesses in the United Kingdom, Proquote and Pulse, are progressing well and both businesses contributed positively to the first half result. The ability to offer integrated products to new and existing customers is presenting revenue opportunities in the United Kingdom.
The reported results of South Africa and the United Kingdom were negatively impacted by foreign exchange movements during the half.
IRESS remains focused on providing leading technology solutions to its clients and the delivery of long-term, sustainable revenue and Segment Profit growth. Based on current expectations around timing of client projects, strong revenue growth and solid profit growth (in constant currency) is anticipated in 2016.
(1) A better understanding of the performance of IRESS is provided by comparing current results to both the most recent prior half (2H15) as well the prior corresponding period (1H15).
(2) Constant currency basis assumes 1H15 and 1H16 results are converted at the average foreign exchange rate used for 2H15. This allows comparison of group operating performance in Australian Dollars before the impact of changes in foreign currency rates. Refer page 5 for the full group result.
Leading Papua New Guinea (PNG) financial institution Kina has expanded its implementation of IRESS’ Acurity Online, a new member and employer online facility, for more than 700,000 members.
Statewide Super and IRESS have partnered to complete the implementation of its Acurity superannuation administration platform which has seen a large number of members access their super information online.
IRESS today announced that it has launched an ebMS messaging service that provides superannuation funds with a verified integration pathway to send non-financial data directly to the Australian Tax Office (ATO).
IRESS Limited announced statutory net profit for the 12 months to 31 December 2017 of $59.8 million, up 1% over the prior year.
IRESS XPLAN now integrates with SuiteBox. Advisers who use XPLAN can meet and transact with clients virtually through leading digital workspace SuiteBox.
IRESS has today announced it is enhancing its training offer to include CPD point accreditation, as well as a new program of structured learning pathways.
Australian technology leaders, IRESS and Lucsan, today announced a partnership that will accelerate the application of RegTech in the financial services landscape.
New benefits for advisers using XPLAN’s Financial Knowledge Centre have been added in the latest version of XPLAN, including the ability to initiate distribution of content directly from XPLAN and an audit trail for fee disclosure statements.
IRESS’ Acurity has expanded superannuation funds’ ability to provide members with a comprehensive and personalised online superannuation experience, improving self-service and efficiency for members, and providing scale and reduced cost for funds.
IRESS today announced that ASX-listed wealth management, financial advice and insurance group, ClearView, has selected XPLAN Prime as its objectives-based, scaled-advice solution.
IRESS will release a next generation online advice offering for XPLAN clients from early 2018 to enable financial advisers to further engage with clients during the advice process. .
IRESS has launched XPLAN iAssist to further strengthen support available to XPLAN users.