European expansion drives Bravura bottom line
Iain Dunstan
Recently-listed wealth management solutions provider Bravura has reported a strong first half, announcing a net profit after tax of $3.5 million on the back of a 118 per cent increase in earnings to $31,977,000.
Bravura Group chief executive Iain Dunstan said the company had transformed over the past six months into a global player as a result of acquisitions and client wins.
He said the revenue results were in line with forecasts, taking into account the seasonal nature of wealth management software revenues, where revenues for the January through to June period were historically higher than those for the first six-month period.
Dunstan’s analysis made clear that Bravura intended deriving the majority of its revenue offshore in future, with 65 per cent of revenue expected to be garnered from the United Kingdom and Europe during the current financial year compared to 24 per cent from Australia.
He said acquisitions and the significant contract wins recorded by Bravura had resulted in an increased cost base, predominantly associated with the integration of the new businesses and employment costs associated with a growing head count.
AUTHOR
Mike Taylor
Recommended for you
Numbers are in for 2024, with Wealth Data confirming how many advisers left during the calendar year and which business models saw the largest growth in terms of new licensees.
Praemium has seen its highest net inflows in over two years for Q2 FY25 as its Powerwrap platform returns to inflows after five consecutive quarterly outflows.
Insignia Financial has announced total quarterly net inflows of $2.3 billion as well as a third bid from Bain Capital.
As DBFO reforms around fees take effect, Adviser Ratings explores how advice businesses can adopt more transparent and client-centric pricing models in 2025.
