Iress profit jumps 47% in H1 2026 on cost cuts, revenue slows

Iress Ltd. on Wednesday reported a 47% year-over-year increase in first-half 2026 profit, driven by cost reductions that offset a revenue slowdown.

The financial software provider posted underlying profit before interest and tax of A$92.3 million ($61.5 million) for the six months ended June 30, up from A$62.8 million a year earlier. Revenue rose 3% to A$256.4 million, below the 5% growth recorded in the prior-year period.

Iress attributed the profit growth to efficiency gains, including lower staff costs and operational streamlining. The company maintained its full-year guidance for revenue growth of 4-6% and underlying profit growth of 10-15%, despite the slower revenue trajectory in the first half.

Chief Executive Officer Anthony Glossop said the results reflected disciplined execution amid a challenging macroeconomic environment. "We remain focused on delivering sustainable growth while managing costs effectively," Glossop said in a statement.

The company’s shares were indicated 2.1% higher in early trading, following the announcement. Iress, which provides trading and wealth management software, has faced margin pressure from rising wages and technology investments in recent quarters.

Analysts at Macquarie noted that while revenue growth was modest, the profit beat underscored the company’s ability to leverage cost controls to offset top-line weakness.