Australian trading technology vendor Iress expresses its commitment to maintaining its presence in the UK, despite facing “disappointing” results in that market.
In its full year results released earlier this week, Iress CEO Marcus Price acknowledged that several offshore markets, particularly the UK, have underperformed, with revenue growth decreasing by 1% in constant currency.
He stated, “We are evaluating business models and product strategies to determine the best path for success in this market, including how we can improve returns for shareholders.”
In response to speculation about a potential exit from the UK, Iress reaffirmed its dedication to finding the right structure and conditions for success in the market.
Price emphasized that the company is “increasingly open to collaborating with other companies to drive innovation and product development in the pursuit of delivering new levels of value and service.” He added, “We have a great business here, with excellent people and excellent clients—many of them at the heart of the financial services system. Our goal is to create the right conditions for success in this important market.”