IRESS: Interim result 2012

A tough trading environment impacted the half-year result, but IRESS remains a high quality business.

IRESS Limited’s interim result (it has a calendar year end) was unsurprisingly lower than the prior year. The tough environment facing the financial services industry meant that while revenue rose slightly to $103.1m, net profit fell 9% to $19.7m as brokers looked to trim costs. A 13.5 cents per share, 90% franked, dividend was declared, a tad lower than last year (ex date 10 Sep).

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