Thursday, August 25, 2011
IRESS' results highlight stability in what was and continues to be a tumultuous period in equity markets together with a heightened rate of change for our customers and financial services generally, both domestically and abroad.
Despite this challenging environment, IRESS' focus has been to continue investing heavily in delivery of client projects and medium-term growth opportunities. Flatter revenue, combined with the impact of headcount growth to support future growth opportunities, produced a stable albeit moderated financial result. Revenue and EBITDA growth for the half from prior half were 9.3% and 0.9% respectively, before allowing for IRESS' investment in medium-term growth in Asia. A key contribution to the result was the acquisition of Peresys in January this year.
IRESS expects market uncertainty to remain an underlying theme in the short-medium term, and for 2011, anticipates moderated positive growth for group EBITDA, before medium-term investment in Asia. IRESS’ growth outlook remains focussed on the medium-long term and includes ongoing assessment of organic and acquisition opportunities.
For full details of this media release, please refer to:
IRESS 2011 Half Year Media Release