Business
Why the Iress (ASX:IRE) share price is 6% higher today
The Iress Ltd (ASX: IRE) share price is rising this morning after releasing its 2020 full-year results (FY20). At the time of writing the financial software company’s shares are 6.5% higher at $10.44.
What’s moving the Iress share price?
Steady sustainable returns for shareholders
The results for FY20 were ahead of the company’s reinstated guidance as a result of solid momentum in the fourth quarter.
Iress reported a 6.6% lift in operational revenue to $542.6 million for the year. Recurring revenue was responsible for 90% of this, growing 8% from the previous year.
Looking at profits, the company’s net profit after tax (NPAT) fell 9% to $59.1 million. This flowed onto a 15% decrease in earnings per share (EPS) for…
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