IRESS Limited today announced Underlying Group profit of $71.4 million for 12 months to 31 December 2014, up 27.7% on the prior corresponding period (Full Year 2013: $55.9 million).
IRESS Chief Executive Officer, Andrew Walsh, said the 2014 full-year result reflects IRESS’ long-term focus on delivering to clients, its reliable, differentiated solutions, and its focus on diversifying its business and achieving positions of scale.
"IRESS continues to anticipate and respond to changing market conditions at the same time as transforming itself into a more international business.
"Globally, our strategy of building and delivering reliable, trusted and innovative solutions backed by quality, on-the-ground support is evident, and has resulted in strong, recurring revenue. This is the first full-year period since our successful Avelo acquisition and a strong presence in the United Kingdom is helping deliver international opportunity and diversification."
The result was positively impacted by the full period contribution by the United Kingdom (2013: four months), with Operating Revenue for the group increasing 31.3% and Segment Profit up 26.4%.
For the 12 months to 31 December 2014, 45% of revenue was from outside Australasia (2013: 32%), and 25% of Segment Profit was from outside Australasia (2013: 10%). Outside of the United Kingdom, Segment Profit was up 3.4% for the year.
"Globally, our wealth management business continues to experience strong demand and growth and our financial markets result is positive in the context of ongoing pressures in the equity broking community. Overall, we are very well placed for opportunities across our businesses."
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