Iress half-year statutory profit reaches $32M
- Iress achieved an 85% increase in statutory net profit after tax to $32 million for the first half of 2026.
- The company declared a fully franked interim dividend of 14 cents per share, representing a 27.3% increase from the prior corresponding period.
- Management stated the updated earnings guidance reflects stronger underlying profitability driven by an ongoing business efficiency programme.
Iress (ASX:IRE) reported an 85% statutory profit increase to $32 million, signalling improved overall earnings quality.
Cash EBITDA increased by 47.1% to $61.1 million compared to the prior corresponding period. Underlying profit after tax increased 18.4% to $38.8 million.
The company's ongoing efficiency programme has delivered $31.5 million in annualised cost savings.
"While revenue growth is expected to remain measured in the near term, we are confident in our strategy and in delivering our FY26 Cash EBITDA margin exit run-rate target of 25%," said Iress Group CEO & Managing Director, Andrew Russell.
Iress stated it expects to secure an additional $6 million in savings during the second half of 2026.
As the company positions itself for future growth, following the announcement, the Iress share price was unchanged at $7.91.
The firm declared a fully franked interim dividend of 14 cents per share to boost shareholder returns.
Iress has updated its FY26 constant currency guidance, with revenue growth now expected to be 1-2% on lower non-recurring revenue.
Cash EBITDA growth is expected to be +21-26% and UPAT growth +15-21%, reflecting the benefits of structural business efficiencies, disciplined cost management and stronger earnings quality.
