Iress (ASX:IRE) has announced its financial results for the first half of the year, reporting a statutory net profit after tax of $17.3 million, unchanged from the previous corresponding period. This result comes as the ASX-listed financial services software group experienced a 3.1 per cent decrease in revenue, which fell to $299.5 million for the six months ending June 30. The revenue dip was primarily attributed to asset divestments, including the sale of Iress’ superannuation business. Iress provides software and services for the financial services industry. The company’s offerings span trading platforms, wealth management tools, and data solutions.
Despite the revenue decline, Iress has reaffirmed its full-year guidance. The company expects adjusted earnings before interest, taxes, depreciation, and amortisation to fall between $127 million and $135 million. Underlying profit after tax is projected to be in the range of $65 million to $73 million. Management is focused on driving growth through new revenue streams, particularly in the areas of data and artificial intelligence.
The group is also making ongoing strategic investments in its core trading and wealth platforms to enhance its offerings and maintain a competitive edge in the market. These investments are aimed at supporting future growth and innovation within the company’s key business segments. To reward shareholders, Iress declared an interim dividend of 11¢ per share.
Looking ahead, Iress will continue to execute its strategic priorities, focusing on innovation and efficiency to deliver sustainable value. The company aims to capitalise on emerging opportunities in the financial services sector and strengthen its position as a leading provider of software solutions.
