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ANZ Wealth helps lift IRESS profits by 7%

ANZ Wealth helps lift IRESS profits by 7%

Reporter
— 1 minute read

The financial technology provider has reported a net profit after tax of $64.1 million for 2018, an increase of 7 per cent on the previous year.

For the 12 months to 31 December, IRESS group operating revenue grew 6 per cent on a constant currency basis. The segments of ANZ Wealth Management and the United Kingdom delivered growth of 9 per cent and 7 per cent respectively. 

ANZ Wealth Management delivered revenue of $136.4 million for the group and a direct contribution of $100.7 million. 

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IRESS chief executive Andrew Walsh said that against a backdrop of increased regulatory scrutiny, growth over 2018 was underpinned by strong demand for wealth, data analytics and superannuation systems.

“IRESS’ 2018 financial result demonstrates our continued focus on sustainable revenue growth and scale. The results in the United Kingdom and Australia were particularly pleasing. 

“In Australia, we experienced continued growth in demand for our wealth, superannuation and data solutions with our trading and market data solutions continuing to be a resilient and important part of our business

“IRESS remains well-placed for continued success in a changing financial services industry, where strong demand remains for a broad range of standalone and integrated technology solutions. There is also an increasing focus by our clients on how technology – and IRESS – can help them manage and leverage data for compliance and growth.”

IRESS expects reported Segment Profit growth in 2019 of between 6 per cent and 11 per cent ($146m–$153 million), on a constant 2018 currency basis, including the impact of adopting AASB 16.

 

ANZ Wealth helps lift IRESS profits by 7%
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