Iress today announced continued growth in its first-half earnings, with its UK division continuing to contribute strongly to the Group’s overall financial performance. The ASX-listed company delivered a solid first-half result with materially improved earnings quality driven by disciplined execution.

Key financial highlights for the UK business include:

• Earnings growth (Adjusted EBITDA): 43% underlying increase to £4.6 million (from £3.5 million in 1H25)
• Recurring revenue growth: Growth of 3% compared to the prior corresponding period.
• Cost discipline: Operating expenses down 5.3% compared to the prior corresponding period.

Iress’ Group CEO & Managing Director, Andrew Russell, said: "Execution has shifted from simplifying the business to investing in product evolution and sustainable growth. We are evolving our products, accelerating engineering capability and increasing delivery velocity through our partnership with Thoughtworks and the disciplined adoption of AI.

“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%. Our focus is on building a higher quality software business with better products, stronger customer relationships and disciplined capital allocation to create sustainable long-term value.”

Commenting on UK business’ contribution to Iress’ first-half performance, Alistair Morgan, Iress’ CEO for the UK, said: “Our first-half performance reflects a clear focus on strengthening our UK business through better client outcomes and technology investment to drive long-term growth.

“It’s particularly encouraging to see our investment in Xplan strengthening our position with the UK’s largest wealth businesses. As industry consolidation continues, our experience supporting complex migrations puts us in a strong position to help firms integrate businesses, simplify technology and improve operational efficiency.

“We’re embracing AI across the business, including in engineering, where our partnership with Thoughtworks is helping us accelerate our capabilities. I’m looking forward to showcasing the new Xplan capabilities, including AI-enabled adviser workflow and productivity tools, at our showcase event in November.

“In Sourcing, we reported record business volumes across our Protection and Retirement services, reflecting the scale and distribution of our platforms across the market. We’re continuing to strengthen that position through sustained investment in our mortgage, protection and retirement technology, driven by client feedback.

“Across both businesses, we’ll continue to focus on doing what works: listening to our clients, responding to what they need and investing in the technology and support that the UK market needs today and in the future.”