Bravura forecasts FY10 ebitda of $10m

Bravura forecasts FY10 ebitda of $10m

Wealth management software and services provider Bravura Solutions (ASX:BVA) has predicted an FY10 ebitda of around $10 million.

The expected result is lower than first predicted, due to the recent delay of one significant contract, and a decision by another Bravura client to stick with its existing platform rather than upgrade to a more recent version.

The company said its recent $32 million acquisition of Mutual Fund Technologies, once closed, will bring “increased certainty and stability of reoccurring annuity revenue that will assist Bravura's predictability of its earnings.”

There are also clear signs of increased demand for Bravura's products, despite a lengthening sales cycle, it added.

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