Iress Limited announces profit guidance

Iress Limited (ASX: IRE) announced its profit guidance for FY22 against challenging macro conditions. The company is experiencing some higher than expected supplier costs, mainly in technology and in part driven by FX rates on USD pricing, which are expected to impact FY22 guidance.

For FY22, Iress Limited expects its Segment Profit to be in the range of AU$166 - AU$170 million on a constant currency basis. Previously in August, the company expected its Segment Profit to be at the bottom of the range of AU$177 - AU$183 million. Iress limited expects its Net Profit After Tax to be in the range of AU$54-AU$58 million compared to the previous guidance range of AU$63-AU$72 million.

The primary reason for the reduced profit guidance is the delayed sales cycles on new client opportunities in APAC and Mortgages, resulting in revenue earlier expected in 2022 being pushed into 2023.

Customer Notice:

Nextgen Global Services Pty Ltd trading as Kapitales Research (ABN 89 652 632 561) is a Corporate Authorised Representative (CAR No. 1293674) of Enva Australia Pty Ltd (AFSL 424494). The information contained in this website is general information only. Any advice is general advice only. No consideration has been given or will be given to the individual investment objectives, financial situation or needs of any particular person. The decision to invest or trade and the method selected is a personal decision and involves an inherent level of risk, and you must undertake your own investigations and obtain your own advice regarding the suitability of this product for your circumstances. Please be aware that all trading activity is subject to both profit & loss and may not be suitable for you. The past performance of this product is not and should not be taken as an indication of future performance.

Kapitales Research, Level 13, Suite 1A, 465 Victoria Ave, Chatswood, NSW 2067, Australia | 1800 005 780 | info@kapitales.com.au