Bravura Solutions Limited (ASX: BVS)- Bravura stock surged on FY18 results

Bravura Solutions

Bravura Solution today announced results for the full year ended 30 June 2018, posting 15% rise in revenue to $221.5 million which includes 26% rise in wealth management revenue driven by 32% growth in Sonata revenue.

Earnings before interest tax, depreciation and amortization increased to $38.6 million from $32.6 million in previous year. Reported net profit after tax increased 87% to $27 million underpinned by strong recurring revenue and continually evolving regulatory environment. Group’s underlying earning per share increased 27% to 12.6 cps during FY18.

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The board has declared unfranked final dividend of 4.5 cents per share, bringing full-year dividend declared to 9 cents per share which reflects 71% payout on FY18 EPS. The final dividend is payable on 28 September 2018 with record date of 4 September 2018. Return on equity was 25%.

Looking into FY19, company is expecting EPS to be in the mid-teens ahead of having new sales opportunities and increased demand.

Following 2018 results announcement, Bravura share price edged up 6.667% to $3.840 on 28 August 2018.

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