Iress well placed for continued success

Company News

by Anna Napoli

Iress (ASX:IRE) has provided an update ahead of its investor briefing today and says it's well placed for continued success in a changing financial services sector.

The tech trading and market data provider's net profit rose 7 per cent in 2018 to $59.8 million.

Revenue grew by 8 per cent (constant currency: +6%) to almost $465 million driven by strong client delivery and sales in Australian and UK.

Iress declared a total dividend of 46 cents per share in 2018, up 5 per cent on 2017.

Looking forward the company expects reported segment profit growth in 2019 of between 6 per cent and 11 per cent ($146m - $153m) on a constant 2018 currency basis.

Meantime, non-operating costs are expected to be substantially lower in 2019 than 2018. following targeted and elevated investment in recent years,

Shares in Iress (ASX:IRE) closed 0.79 per cent lower at $12.61.