IRESS to Deliver Strong Second-Half Growth but Shares Remain Fairly Valued.
We expect narrow moat-rated IRESS to report a strong financial result for 2016 and forecast a 14% increase in underlying net profit after tax to AUD 75 million. Revenue and NPAT grew by 12% and 17%, respectively, in the first half versus the previous corresponding period driven by solid organic growth and the acquisitions of Proquote and Pulse in the United Kingdom in late 2015. We expect organic growth within the Australian and U.K. wealth management businesses, and the acquisition of Financial...IRESS is engaged in the provision of information, trading, compliance, order management, portfolio and wealth management, and lending systems and related tools. Co.'s main clients are financial markets and wealth management participants in Australia, New Zealand, South East Asia, Canada, South Africa and the U.K. Co. provides solutions to clients using three core platforms: IRESS (market information and trading platform), XPLAN (wealth management and advice platform), and Mortgage Sales and Originations (lending automation and processing platform). Core business activities of Co. are carried out within three main divisions being financial markets, wealth management, and enterprise lending.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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