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.
AUTHOR
Recommended for you
In this episode of Relative Return, host Maja Garaca Djurdjevic chats with Chris McGibbon, global head of real estate at Nuveen, about the long-term outlook and why the “knife has stopped falling” in property.
In this new episode of The Manager Mix, host Laura Dew speaks to Nick Paul, institutional portfolio manager at MFS Investment Management to delve into everything small and mid-cap equities.
In this episode of Relative Return, host Laura Dew chats with Kellie Wood, head of fixed income and deputy head of fixed income and multi-asset at Schroders Australia, to discuss why fixed income is returning to favour after a 12-year wait.
In this episode of Relative Return, host Laura Dew speaks with Michael Hunstad, deputy chief investment officer and chief investment officer of global equities at Northern Trust Asset Management, to debunk myths around index investing.
