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IRESS records profit loss

IRESS records profit loss

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By tlewis ·
August 21 2015

IRESS records profit loss

IRESS has reported a five per cent decline in its net profit after tax for the six months to 30 June 2015 on the prior corresponding period. 

IRESS records profit loss
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The software company's net profit after tax were $28.5 million, which is a five per cent decline on the previous corresponding period.

Operating revenue for Australasia was up one per cent for the second half of 2014. However, segment profit - a measure of underlying performance - was down one per cent on the same period.

IRESS indicated this is a result of the "voluntary" liquidation of BBY.

Despite losses, IRESS chief executive Andrew Walsh said: "Our financial markets business performed solidly in the context of ongoing external challenges, particularly those faced by sell-side clients."

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IRESS indicated that the firm is focused on the medium to long term, and is constantly assessing organic and acquisition opportunities.

Segment profit for the Australian and New Zealand wealth management sector rose 9.9 per cent from the prior corresponding period.

"We continue to invest in deploying our financial markets solutions to maintain and strengthen our market-leading position," Mr Walsh said.

"Our next generation online market data and trading solution is being received very positively by clients and will be formally launched in coming months," he said.

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