Bravura maintains profit
Bravura Solutions has maintained its profit and revenue in the 2008-09 financial year, despite a reduced number of contract renewals compared to the previous corresponding period.
The firm recorded an unchanged profit of $1.6 million and slight revenue drop of 2 per cent to $133.5 million. Bravura has also increased its cash flow to more than $5 million over the year. Operating costs were flat, at $117.4 million.
However, Bravura's result was impacted by restructuring costs of $9.3 million, while its Australian and New Zealand revenue dropped by $6.4 million. The key reason for the fall in revenue was due to the ending of a number of client contracts, the statement said.
The firm also attributed a $3.9 million fall in revenue to the strengthening of the Australian dollar, which caused a change in the foreign exchange.
Bravura chief executive Iain Dunstan said the result was very credible in the current environment, and was a testament to its strategy of diversifying its presence and its strong financial software offering.
Recommended for you
In this week’s episode of Relative Return Insider, AMP chief economist Shane Oliver joins the show to explore the major global and domestic forces shaping investment markets in 2025, from ongoing geopolitical tensions and the NATO summit to US President Donald Trump’s trade policy and the One Big Beautiful Bill.
In this week’s episode of Relative Return Insider, Professor Robert Brooks of Monash Business School joins the show to unpack the economic and market implications of rising tensions between Israel and Iran.
In this week’s episode of Relative Return Insider, hosts Maja Garaca Djurdjevic and Keith Ford discuss a busy week of announcements from ASIC, with submissions to its public and private markets paper made (mostly) public.
In this week’s episode of Relative Return Insider, AMP chief economist Shane Oliver joins the show to unpack Australia’s underwhelming March quarter GDP figures and what they signal for the Reserve Bank’s next move.
