The results in IRIS' second Annual
Review reinforce the robustness of the IRIS business
model and the success of its recent consolidation and integration
process .
Revenues for the year remained at £119m (period ended 30
April 2009: £119m), operating profit before exceptional costs and
amortisation of goodwill (‘adjusted operating profit’) was up by
10% to £44m (period ended 30 April 2009: £40m) with operating
cash flow of £44m over the year (period ended 30 April 2009:
£39m).
On the back of continued investment, we are now extremely well
placed for further growth, particularly within the areas of
software as a service, and hosted and managed services, as
customers look to take advantage of these new technologies in order
to reduce costs and improve efficiency.”
Martin Leuw, CEO
The review demonstrates IRIS’ commitment
to complying with best practice corporate governance reporting and
meets the standards set out in the ‘Guidelines for Disclosure and
Transparency in Private Equity’ issued in November 2007 (commonly
referred to as
the ‘Walker Report’).
Commenting on the results, Group Chief Executive Officer Martin
Leuw explained; “The indications are that the continued tough
economic conditions will act as a catalyst for our customers to
outsource more of their IT requirements to us, allowing them to
focus on their core business and professional operations. Provided
we continue to deliver the most innovative and reliable products on
the market, along with the very high levels of service excellence
that our customers are accustomed to, then I believe that the next
few years will see further growth and expansion.”
IRIS has built its success and reputation on providing mission
critical software
and deep domain expertise that improve operational efficiency. This
is backed
up by a total commitment to service excellence.
More information on the directors of IRIS can be found here.