Iress announces plans to accelerate growth and returns

Iress has announced plans to accelerate growth and returns for shareholders, with a new medium-term target to more than double NPAT by 2025, with potential for further upside.

Iress chief executive, Andrew Walsh, said, “Following a comprehensive Board-led review that followed the appointment of Roger Sharp as chair-elect in February, it is clear that the opportunity for Iress is greater than previously anticipated and current consensus.

“We have built solid foundations enabling us to capture more market share in large addressable markets. We are executing our growth strategies including in the United Kingdom, in superannuation and for investment infrastructure. In completing the transition to a single technology platform we will also achieve greater operational leverage and speed to market.”

Iress is also focused on enhancing EPS through capital management and today announced an on-market share buy back of up to $100 million of ordinary fully paid shares.