IRESS Ltd
Company Profile
Business description
Iress develops software for the financial-services industry, operating in multiple regions and servicing clients ranging from small retail to large institutional businesses. Its core business unit, mainly in Australia, generates most of the company's earnings and free cash flows. Iress expanded into noncore markets through acquisitions, ultimately eroding returns and margins, with free cash flows from the core business invested in the noncore businesses. Its recent strategy includes reprioritizing growth in the core Trading and Market Data and Wealth businesses, and divesting/monetizing noncore assets. We view this renewed focus on its core business as a positive, as it will help maintain Iress' economic moat.
Contact
385 Bourke Street
Level 16
MelbourneVIC3000
AUST: +61 390185800
Sector
Technology
Stock type
Sensitive
Industry
Software - Application
Fiscal Year End
Employees
1,422
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