IRESS: Result 2012

A growing market for its wealth management software failed to offset lower demand for its market data products both here and abroad. Jason Prowd revisits the case for IRESS.

IRESS’s full-year result failed to impress. Net profit fell 9% to $54.4m, from slightly higher revenue of $206.7m. However, excluding the amortisation on sunk software development costs, earnings before interest tax and amortisation (EBITA) was down only 2% at $60.1m. A 24.5 cent final dividend was declared, bringing the annual total to 38 cents (90% franked, ex date 5 March).

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