Iress posts strong profit from global growth
Technology and software provider Iress has reported an underlying group profit of $71.4 million for year to the end of December 2014, up 27.7 per cent on the on the prior corresponding period (pcp).
Iress reported an increase in group revenue of about a third, to $329 million, with diversification of revenue from outside Australia increasing from 32 per cent in 2013 to 45 per cent in 2104.
Part of this came from Iress purchase of Avelo in the UK with the reporting solid profit growth in that market and the local market, with small growth in South Africa and a profit decrease in Canada as the result of increased business investment
As a result of the increase Iress announced a final dividend of 25.5 cents per share, in increase of 9 per cent on 2103 with this year's dividends to be 40 per cent franked and a a total dividend for the year ended 31 December 2014 of 41.5 cents per share.
Iress chief executive Andrew Walsh the results were part of a strategy to build products that were locally supported and its wealth management business was experience strong demand and growth across all markets and its financial markets result were positive despite pressures in the equity broking community.
AUTHOR
Jason Spits
Recommended for you
As the year draws to a close, a new report has explored the key trends and areas of focus for financial advisers over the last 12 months.
Assured Support explores five tips to help financial advisers embed compliance into the heart of their business, with 2025 set to see further regulatory change.
David Sipina has been sentenced to three years under an intensive correction order for his role in the unlicensed Courtenay House financial services.
As AFSLs endeavour to meet their breach reporting obligations, a legal expert has emphasised why robust documentation will prove fruitful, particularly in the face of potential regulatory investigations.
