IWL posts record interim profit
A stronger performance within the advisory software division as a result of an enhancement of VisiPlan has contributed to IWL’s best-ever half-yearly financial operating performance.
The advisory software, research and stock broking provider posted a record net profit after tax of $7.8 million for the half-year to December 31, up $2.5 million or 46 per cent on the previous corresponding period.
Chief executive Otto Buttula said a “better underlying performance within the advisory software division as a result of a challenging enhancement program” was one of a combination of contributing factors to the result.
The program will “see our next generation of software encompassing new levels of functionality, particularly in easy planning and practice management”, Buttula said.
Other contributing factors were “buoyant ASX equity market conditions and new contributions from the recent acquisitions in Avcol Stockbroking and also JDV Limited [within past four months]”.
Total advisory software licensees stood at 8,425 on December 31, up 3 per cent on the previous corresponding period, while funds under administration stood at $21.6 billion, up $17.1 billion or 378 per cent, boosted by the acquisition of JDV.
Operating revenues of $45.4 million were posted for the half-year, up $18.3 million or 68 per cent on the previous corresponding period, and operating earnings before interest, taxes, depreciation and amortisation of $11.5 million were posted, up $3.8 million or 49 per cent.
A fully franked half-yearly dividend of 10.0 cents per share was paid, up 11 per cent on the previous corresponding period.
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