Advisory software boosts IWL profit
Higher advisory software revenues as a result of new software sales has helped IWL to a 50 per cent increase in first-half earnings (EBITDA) over the corresponding period last year.
The financial services software provider posted an overall first-half earnings forecast of $11.5 million, an increase of 3.8 million on the first half last year.
The company also posted an operating revenue forecast of $45.3 million for the December half, up 67 per cent on the previous corresponding period.
IWL’s advisory software division posted an 8 percent increase in operating revenues over last year to $7.9 million, aided by a 3 per cent increase in total advisory software licensees to 8,425 during the half year.
An Australian Stock Exchange (ASX) statement by IWL attributed the division’s growth during the period partly to the re-signing with AXA Australia for the supply of its financial planning software program VisiPlan over the next three years.
Other suggested contributions were an “ongoing investment in software development as part of an program to enhance our front end-platforms”, and the rebuilding of its managed funds independent research team.
Recommended for you
In this episode of Relative Return Unplugged, hosts Maja Garaca Djurdjevic and Keith Ford are joined by special guest Shane Oliver, chief economist at AMP, to break down what’s happening with the Trump trade and the broader global economy, and what it means for Australia.
In this episode, hosts Maja Garaca Djurdjevic and Keith Ford take a look at what’s making news in the investment world, from President-elect Donald Trump’s cabinet nominations to Cbus fronting up to a Senate inquiry.
In this new episode of The Manager Mix, host Laura Dew speaks with Claire Smith, head of private assets sales at Schroders, to discuss semi-liquid global private equity.
In this episode of Relative Return, host Laura Dew speaks with Eric Braz, MFS portfolio manager on the global small and mid-cap fund, the MFS Global New Discovery Strategy, to discuss the power of small and mid-cap investing in today’s global markets.
