IRIS Group publishes its accounts
At last we have a copy of the IRIS Software Group's accounts. They were signed off on the 18th December 2008 and apparently filed with Companies House on 11th February 2009. They are for the trading period 27th June 2007 to 30th April 2008 (in effect the 10 months immediately following the IRIS/CSG deal) and are for the entire group – not just the legal software division everyone is familiar with. As the accounts are complex, reflecting the finance deals surrounding the creation of the group, we'll just report the headline figures here and leave you to wade your way through the attached PDF copy of the accounts.
IRIS Software Group Ltd – Profit & Loss
Loss for the period: £29m
Non Current Liabilities Borrowings: £520m
Net liabilities: £28m
The accounts also reveal that IRIS paid £1.8m to acquire the legal IT vendor OPSIS in June 2008 and a further £4.5m to acquire MSS/AlphaLaw in November 2008.
The group's chairman concludes his report with the comment that “IRIS Software Group is highly successful, showing significant growth potential and cash generation.”