Tiger Brokers

BUZZ-Australia's Iress slumps on lower-than-expected profit, forecast

Reuters
Feb 24, 2025
BUZZ-Australia's Iress slumps on lower-than-expected profit, forecast

** Shares of finance-focussed software provider Iress IRE.AX fall as much as 18.3% to A$7.340, their lowest level since December 1, 2023

** Stock among the worst performers on benchmark index .AXJO, which is little changed

** Co posts FY24 net profit after tax attributable (NPATA) of A$30.1 million ($19.18 million), missing consensus of A$43 million, according to Jefferies

** Co sees FY25 NPATA in a range of A$54 million to A$62 million, below Jefferies' consensus of A$70.4 million

** Stock set for sharpest one-day pct drop since August 2023

** 1 million shares change hands, 2.1x times the 30-day average

** Stock down 20.4% YTD, including session's moves

($1 = 1.5691 Australian dollars)

(Reporting by Jasmeen Ara Shaikh in Bengaluru)

((Jasmeenaraislam.shaikh@thomsonreuters.com))

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