IWL last week reported an 88 per cent rise in its 12-month earnings and indicated further acquistions are likely before the end of this year.

IWL’s preliminary results for the year ended June 30, showed operating earnings before interest, tax, depreciation, and amortisation (ebitda) of $27.8 million, up from $14.8 million the previous financial year. IWL chief executive Otto Buttula said the company had a dual growth strategy which included both organic expansion and acquisitions. “The major part of the earnings growth was via acquisitions but virtually all of the divisions also grew organically,” he said. During the year ended June 30, IWL bought the online broking firm JDV Limited, and the software insurance business Boss International Australia. Buttula said IWL was currently in talks about further possible purchases. He was unwilling to give details of who they involved, but said new deals were likely to be completed by the end of the calendar year. During the current financial year, Buttula said IWL would work on realising synergies from its new acquisitions and fully integrating JDV and BOSS into the business. BOSS will be integrated into IWL’s advisory software arm, which includes its flagship VisiPlan software. IWL claims the number one market position in advisory software, estimating its share of the market at 40 per cent. Buttula said IWL also aims to increase its market share of independent research, and will look at consolidation opportunities. IWL’s audited full year results will be released on August 23.