Bravura Solutions announces expected EBITDA upgrade
Sydney, 2 July 2012 (ASX: BVA) – Bravura Solutions Limited (Bravura) – a leading global supplier of transfer agency and wealth management software applications and professional services – wishes to announce a revenue update and an expected EBITDA upgrade for the financial year, ended 30 June 2012.
Revenue for FY2011 was $120.7 million. Revenue for FY2012 is expected to be in the range of $125.0 million to $127.0 million.
EBITDA for FY2011 was $19.0 million. EBITDA for FY2012 is expected to be in the range of $22.0 million to $24.0 million.
As financial services organisations prepare for regulatory changes in both Australia and Europe, Bravura is seeing increased business opportunity. In particular, Sonata, our next generation Wealth Management application, continues to gain traction, and we are pleased that major clients in our Transfer Agency business are extending and enhancing the platforms that underpin their success. The Company continues to focus on and nurture client relationships in pursuit of its commitment to growth.
Bravura’s end of financial year results will be released to the market on Thursday, 23 August 2012, and the AGM will be held on Tuesday, 23 October 2012.