Highlights

  • Former Bravura Solutions CFO Neil Montford becomes Iress Group Chief Financial Officer on 16 November 2026.
  • Cash EBITDA for 1H26 climbed to A$61.1 million, lifting the Margin to 24.5% from 15.2%.
  • Iress raised FY26 Cash EBITDA guidance to A$121-A$126 million but cut Revenue guidance to A$509-A$515 million.
  • Directors declared a fully franked Interim Dividend of 14.0 cents per share, up from 11.0 cents.

Iress (ASX:IRE) has filled a key finance role as it moves from cost-cutting into product investment, appointing Neil Montford as Group Chief Financial Officer effective 16 November 2026.

The appointment, announced on 8 September, follows half-year results in which the financial services software provider lifted its full-year Cash EBITDA guidance even as it lowered expectations for revenue.

A Familiar Face for the Chief Executive

Montford was chief financial officer of Bravura Solutions from June 2023 until August 2026, where he helped with a financial and operational turnaround. Before that he spent 11 years at Fidelity International, most recently as CFO Asia Pacific, and led finance functions for two Macquarie Group divisions. Group CEO Andrew Russell previously worked with him at Bravura.

He replaces Cameron Williamson, who had already announced his intention to step down and will remain with Iress until the end of 2026 to support the handover. Montford will be based in Sydney.

Leaner Cost Base Drives a Stronger Half

For the six months to 30 June 2026, reported revenue fell to A$250.0 million from A$299.5 million, largely because of the sale of the Superannuation Business and QuantHouse in 2025. On a continuing business, constant currency basis, revenue grew 2.5%, with Recurring Revenue making up 95% of the group total.

Cash EBITDA, the company's headline Earnings measure, rose to A$61.1 million from A$45.6 million, as operating expenses fell and Capital Expenditure dropped 60% after the 2025 build of a new trading platform. Statutory net profit after tax increased 85.0% to A$32.0 million, and Underlying Profit after tax rose 18.4% to A$38.8 million.

Every segment improved Cash EBITDA. APAC Wealth revenue grew 4% to A$68.2 million, Global Trading and Market Data was flat at A$125.3 million, and UK Wealth and Sourcing revenue declined 7% to A$53.5 million, partly because of currency movements.

Revised Guidance and Product Investment Ahead

Iress now expects FY26 continuing business revenue of A$509 million to A$515 million in constant currency, down from A$520 million to A$528 million, reflecting lower non-recurring revenue. Cash EBITDA guidance was raised to A$121 million to A$126 million, while underlying profit guidance was narrowed to A$84 million to A$88 million. The company continues to target a 25% Cash EBITDA margin exit run-rate by the end of 2026.

Its efficiency programme has delivered A$31.5 million of annualised savings, with a further A$6 million to A$9 million expected in 2H26. Product investment is set to rise in the second half as work with Thoughtworks embeds AI across engineering and develops AI-enabled adviser workflow tools for Xplan. Russell said near-term revenue growth is expected to remain measured.

With Leverage at 0.5 times at 30 June, the board declared a fully franked interim dividend of 14.0 cents, paid on 28 September 2026.

Shares were priced at A$5.54 on 2 November 2026, down 0.54% on the day, giving a Market Capitalisation of A$1.03 billion.