Ann: Market Update - Half Year Trading Update, page-13

I was talking to a good friend of mine this morning an an investment seminar. We eventually turned a favourite topic. IRI.

My friend, I will call him John, to protect his identity.

The conresation started at Hansen Technologies which he has studied for years and then onto IRI. John is a tech expert which I am certainly not. His research into Hansen was quite revealing and he presicted many years ago it would be a good investment though Covid has slowed it down somewhat. I am not in HSN at the moment.

On IRI he believed it has turned the corner with IRI getting on with new offerings for customers to use its products from a cloud basis both its UCOM product and Transact product.

It also appears that IRI has resolved some serious Sales Management issues in Australia and the US especially its new hire in the US Rodney Foreman.

IRI had a far better subscription renewal result in H1 FY'23 and in fact lengthened its renewed contracts to a much better 4.2 years average term.

IRI have said that its key target for H2 was to close the many new deals it has on offer. The CEO was very confident on the Results Call. I have watched the CEO grow into his role and come through a very torrid time during FY'21 and FY'22. He originally came from Technology One where he was responsible for Global Sales, so a very good pedigree.

I hope that answers your question. I have maintained my shareholding, under great pressure to get out at the nadir, but I held on and I hope to reap the rewards over the next 12-18 months.

Cheers........D