Bravura Solutions (Bravura) has returned to the black, its full-year results for the period to 30 June show, with improved EBITDA and reduced operating expenses after a business restructure.
The platform technology provider reported gross revenue of AU$250.4m (£129m), slightly ahead of the full-year figures for 2023. EBITDA was A$25.8m, it added. Bravura said its operating expenses fell from AU$257.7m to AU$231.0m as a result of a "significant reduction in head count as part of the cost out restructuring" as well as a reorganisation of occupancy requirements and the reduction in external costs. Adjusted net profit after tax was AU$8.8m - up AU$31.9m compared to the full year results for 2023. No dividend was declared as the company continues to stabilise and generate f...
To continue reading this article...
Join Professional Adviser for free
Signup and gain exclusive members-only insights
- Unlimited access to real-time news, industry insights and market intelligence
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters
- Make smart business decisions with the latest developments in regulation, investing retirement and protection
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes
