Bravura Solutions Limited (BVS) is up approximately 5% following strong earnings results…
Bravura Solutions Limited (BVS), a holding within the Value Strategy since December, reported a strong set of half-year numbers this morning which has helped the stock continue its recent momentum.
The company reported that net profit after tax (NPAT) grew 21% to $19.8m while group earnings before interest, tax, depreciation and amortisation (EBITDA) firmed 7% to $25.5m. BVS’ funds administration division delivered growth during the half, however its wealth management business experienced declines due to the temporary delays in some major transformational client projects.
Profit margins continued to expand, demonstrating the scalability of its products as it grows, and its guided NPAT grew at a mid-teen level for the full year. Considering the tumultuous run the stock has endured – primarily a result of its failed bid for GBST Holdings and the fallout from Brexit – a good set of numbers will hopefully push the stock higher in coming months.
BVS remains a ‘hold’ as part of the Value strategy.
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