Advisory software boosts IWL profit
Higher advisory software revenues as a result of new software sales has helped IWL to a 50 per cent increase in first-half earnings (EBITDA) over the corresponding period last year.
The financial services software provider posted an overall first-half earnings forecast of $11.5 million, an increase of 3.8 million on the first half last year.
The company also posted an operating revenue forecast of $45.3 million for the December half, up 67 per cent on the previous corresponding period.
IWL’s advisory software division posted an 8 percent increase in operating revenues over last year to $7.9 million, aided by a 3 per cent increase in total advisory software licensees to 8,425 during the half year.
An Australian Stock Exchange (ASX) statement by IWL attributed the division’s growth during the period partly to the re-signing with AXA Australia for the supply of its financial planning software program VisiPlan over the next three years.
Other suggested contributions were an “ongoing investment in software development as part of an program to enhance our front end-platforms”, and the rebuilding of its managed funds independent research team.
Recommended for you
In this week’s episode of Relative Return Insider, AMP chief economist Shane Oliver joins the show to dissect the ongoing government economic reform roundtable and reflect on the wish lists of industry stakeholders – and whether there is hope for meaningful reform.
In this week’s episode of Relative Return Insider, hosts Maja Garaca Djurdjevic and Keith Ford take a look at the Reserve Bank’s latest rate cut call, the factors influencing the unanimous decision, and what economists expect from the rest of the year.
In this episode of Relative Return Insider, host Keith Ford is joined by Accountants Daily journalist Imogen Wilson to take a look at why there has been such broad support for a more comprehensive tax reform discussion at the Treasurer’s economic roundtable.
In this week’s episode of Relative Return Insider, AMP chief economist Shane Oliver joins the show to discuss Australia’s stagnating productivity ahead of the government’s economic reform roundtable, and how picking all the “low-hanging fruit” for reform in the ’90s helped kick off a surge that has since stalled out.
