Why it matters: Iress is facing higher costs and slower revenue growth amid a strategy overhaul
Iress suspended its interim dividend and will review its dividend policy
The company sold its managed funds administration business for $52m to pay down debt
Shares in financial software and data firm Iress are plunging almost 30 per cent following a cut in full-year earnings guidance and the suspension of its dividend as it charts a turnaround program.
The company’s half-year results were weaker than analysts had expected amid higher underlying costs, with revenue growing 2 per cent to $315.3 million.
Loading...
Tess Bennett is a technology reporter with The Australian Financial Review, based in the Brisbane newsroom. She was previously the work & careers reporter. Connect with Tess on Twitter. Email Tess at tess.bennett@afr.com
