Iress Wealth Management Australia and New Zealand, which includes the Xplan, VisiPlan and PlanTech systems, achieved revenues of $39.3 million over 2008.

This is an increase of 36.5 per cent compared to $28.8 million in 2007.

Recurring subscription revenues saw strong growth, helped by positive contributions from acquisitions, the company said.

On 1 May 2008, Iress took over TransActive Systems, which provides financial planning technology and related services to mortgage brokers and financial planners in Australia.

Dealer Management Systems, which was acquired on 1 August 2008, provides commission processing and remuneration management services for financial planners in Australia.

Wealth management revenue continued to grow in the second half of the year, although December 2008 and early 2009 saw a spike in subscription cancellations as clients cut costs.

"It seems likely a similar mix of influences will prevail through 2009, suggesting stable to modestly growing revenue outcomes," the company said.

"Notwithstanding this, organic opportunities in Australia, New Zealand and South Africa remain strong to support medium-term growth for wealth management."

The wealth management Australian and New Zealand division booked a net profit of $8.6 million over 2008, compared with $6.7 million the year before.

Iress' overall operations including its market data systems reported a net profit of $35.6 million, a 39.7 per cent increase on the $25.5 million in the prior year.