IRESS (IRE.ASX) today announced its financial results for the year ended 31 December 2018.
Group Operating Revenue grew 6% on a constant currency basis, reflecting a strong performance across the business. The segments of ANZ Wealth Management and the United Kingdom delivered growth of 9% and 7% respectively. Group Segment Profit was up 8% (constant currency).
IRESS chief executive Andrew Walsh said: “IRESS’ 2018 financial result demonstrates our continued focus on sustainable revenue growth and scale. The results in the United Kingdom and Australia were particularly pleasing.
“In the United Kingdom, revenue growth was stronger in the second half with good progress on a number of key client projects. In Australia, we experienced continued growth in demand for our wealth, superannuation and data solutions with our trading and market data solutions continuing to be a resilient and important part of our business.
“IRESS remains well-placed for continued success in a changing financial services industry, where strong demand remains for a broad range of standalone and integrated technology solutions. There is also an increasing focus by our clients on how technology - and IRESS - can help them manage and leverage data for compliance and growth.
“We expect 2019 reported Segment Profit growth to be between 6-11% on a constant 2018 currency basis and after the impact of new accounting standards.”
APAC Financial Markets
ANZ Wealth Management
Investor Conference Call
IRESS CEO Andrew Walsh and CFO John Harris will host a conference call and Q&A session with the investment community at 9.30am AEST today (21 February 2019).
Analysts and investors who wish to participate in the teleconference should dial 1800 558 698 / +61 2 9007 3187 and quote conference ID 876 260.
The call will also be webcast live at: https://webcasting.boardroom.media/broadcast/5c355678eb965402d8d66a0b
Please note if you use the webcast link you will not be able to ask questions.
ASX Media Release – 21 February 2019, Australia
Chief Executive Officer
Telephone: +61 2 8273 7000
Chief Financial Officer
Telephone: +61 3 9018 5800
Group Executive - Communications & Marketing
Telephone: +61 468 963 068
(1) Assumes 2018 results are converted at the average foreign exchange rate for 2017
(2) IRESS considers inter-period comparability of results is best presented as the underlying operating results of the relevant businesses calculated excluding share-based payments, non-recurring items and foreign exchange impact of the revaluation of intercompany and cash balances.
(3) Constant currency basis assumes 2019 results are converted at the average foreign exchange rates used for 2018. This allows comparison of group operating performance in Australian dollars before the impact of changes in Australian currency rates.
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