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
Join us for a special episode of Relative Return Unplugged as hosts Maja Garaca Djurdjevic and Keith Ford are joined by shadow financial services minister Luke Howarth to discuss the Coalition’s goals for financial advice.
In this special episode of Relative Return Unplugged, we are sharing a discussion between Momentum Media’s Steve Kuper, Major General (Ret’d) Marcus Thompson and AMP chief economist Shane Oliver on the latest economic data and what it means for Australia’s economy and national security.
In this episode of Relative Return Unplugged, co-hosts Maja Garaca Djurdjevic and Keith Ford break down some of the legislation that passed during the government’s last-minute guillotine motion, including the measures to restructure the Reserve Bank into a two-board system.
In this episode of Relative Return Unplugged, co-hosts Maja Garaca Djurdjevic and Keith Ford are joined by Money Management editor Laura Dew to dissect some of the submissions that industry stakeholders have made to the Senate’s Dixon Advisory inquiry.
