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Ebix profit up despite currency headwinds

Technology company Ebix has reported a 7% increase in profit for last year, despite the stronger US dollar affecting income from its Australian and Brazilian operations.

The US-based service provider reported a full-year profit of $US63.56 million ($83.2 million) on total revenue of $US214.32 million ($280.55 million), up 5%.

Chairman and CEO Robin Raina forecasts a “great year ahead” due to large clients won recently.

He says Ebix is looking to grow organically and through acquisitions.

Ebix Australia MD Leon d’Apice says the local operation enjoyed a very strong year, launching a range of mobile applications for brokers and new releases of core solutions.

Talks continue with Steadfast over construction of an interface between Ebix and the broker group’s Steadfast Virtual Underwriter platform, Mr d’Apice told insuranceNEWS.com.au.

The parties have been unable to agree for more than a year on the design of the interface and the commercial terms for its operation.

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