Software company Iress Market Technology (Iress) reported a 27 per cent lift in profits for the half year, posting an $18.1 million profit.
The company's results were attributed to two major acquisitions completed in the year, Iress managing director Peter Dunai said.
In April the listed company bought financial advisory software, VisiPlan from wealth management software company IWL for about $50 million. In July, the business bought South African-based software company, Spotlight for an estimated $8.4 million
"Our already strong and rapidly growing wealth management division has been transformed through these acquisitions," Dunai said.
The company's information services also recorded a 7.9 per cent lift in revenue.
"The stability and resilience of growth in our information services division highlights our established position with the Australian investment community," he said.
"With annualised total wealth management revenue now tracking around $40 million, we have achieved overwhelming market leadership in Australia, New Zealand and South Africa.
"This provides opportunities for growth and product development for the group," he said.
