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 Unplugged, AMP chief economist Shane Oliver joins the show to unravel the web of tariffs that US President Donald Trump launched on trading partners and take a look at the way global economies are likely to be impacted.
In this episode of Relative Return, host Laura Dew is joined by Andrew Lockhart, managing partner at Metrics Credit Partners, to discuss the attraction of real estate debt and why it can be a compelling option for portfolio diversification.
In this week’s episode of Relative Return Unplugged, AMP’s chief economist, Shane Oliver, joins us to break down Labor’s budget, focusing on its re-election strategy and cost-of-living support, and cautioning about the long-term impact of structural deficits, increased government spending, and potential risks to productivity growth.
In this episode of Relative Return, host Laura Dew chats with Mark Barnes, head of investment research, and Catherine Yoshimoto, director of product management, from FTSE Russell about markets in Donald Trump's second presidency and how US small caps are faring compared to their large-caps counterpart.
