Ann: Market Update - Continuous Disclosure, page-30

'm gonna try and address why I believe this is a buying opportunity for investors through a few refined points.

1. The downgrading of profitability & revenues for the FY21 guidance is a short term consequence of the financial & economic impacts brought on by COVID-19.
We need to keep in mind that IRI's products tend to be used by large, globalised corporations such as banks, stock exchanges and so on. Such firms have been at the forefront of closures on a global scale and hence are coming under profitability pressures, hence would look to relieve such pressures by deferring payments.
In both the market releases on the 30/12 & 18/12, IRI's management has quoted "deferred purchasing decisions" and "unfavourable exchange rate movements" as major impacts on business performance. IMO, both of these impacts are short term in nature (i.e the AUD is 0.77USD, how can it be sustained at this level....?)

2. IRI offer a product that is essential for the businesses it services.
The integrated technology that the firm offers is essential in the day to day operations for many of its major customers (such as J.P Morgan for example). The business & system critical tech. that they offer is not a so called "option" for such firms but rather a necessity and hence this dip in performance is only short-term.

3. Management have shown capability to perform.
IRI has been a wealth winner for a long time, having gone through things such as the GFC and other economic pressures and come out shining on the other side. If past performance is anything to go off, why are things going to change in the long run for this company. Though I do believe this is the time for management to really show their worth. (As Andrew has stated in the past, its easier for managers to run the company during normal times, they only really show their capabilities when sh*t hits the fan).

*I am an IRI shareholder and will be buying more shares on this dip.