IRESS' revenue up while profits fall

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IRESS has seen it operating revenue in the UK increase by 4.1%, to £28.9m, while profits excluding Enterprise Lending were down 1.7% to £6.5m.

IRESS' total group revenue was £86.6m, and profits excluding Enterprise Lending stood at £29.4m.

In July 2015 IRESS launched XPLAN Mortgage, with further components to follow, including for protection.

Andrew Walsh, chief executive officer of IRESS, said: "The UK is an important strategic market for IRESS and we are making pleasing progress.

"We are investing heavily in our UK business for our clients, both in terms of people and solutions, and we expect to continue to see the benefit from this, particularly over the medium and long term."

He added: "We have a strong pipeline, and expect this trend to continue for the foreseeable future.

"Increased regulation and the need for scale has increased consolidation of advice firms and technology is increasingly at the centre of advisory businesses.

"We have continued to invest in growing our capacity in wealth management as a result.

"We have continued to observe and respond to increased demand from integrated wealth management firms where requirements spanning the entire IRESS product suite bring together capability from financial markets and wealth management."

Further reading:

Royal London protection business up 43%

TMA hosts DA conference with protection sessions

Analysis: Navigating the big four quote portals

 

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