Bravura Solutions (LON: BVS), the Sydney-headquartered software provider for wealth management, life insurance and pensions administration, swung back to profit in its FY26 results and unveiled a bumper dividend, driving the shares sharply higher in the first big test of its new AIM listing.
Bravura closed at A$3.52 on 13 August, up 12.10% from the prior day’s A$3.14 close and a fresh high above the previous 52-week peak of A$3.3374. That followed a 12.5% jump on results day itself, 12 August, when the shares rose from A$2.79 to A$3.14, taking the two-session gain to more than 25%.
Bravura’s results, for the year to 30 June, showed underlying revenue up 9.6% to $282.6m and underlying net profit after tax up $38.7m to $63.1m, a sharp swing from a weak FY25. The board declared a final ordinary dividend of 8.31c plus a special dividend of 6.69c, taking the combined final payout to 15.0c per share, or $67.3m, with $113.2m, or 25.23c per share, declared across the full year. Bravura also agreed a new $100m debt facility with HSBC and launched a $50m on-market buyback to run over 12 months from 31 August.
The profit swing was underpinned by underlying Cash EBITDA, core operating cash profit before one-off items, of $77.1m, up $33.3m on FY25’s $43.8m. Recurring revenue, the repeat income from support and hosting contracts rather than one-off project fees, rose 6.9% to $165.0m from $154.3m. Bravura ended the year with $50.3m of cash and no debt, giving it headroom to fund the dividend and buyback alongside the new HSBC facility. For FY27 it has guided to revenue of $280-300m and Cash EBITDA of $84-94m.
The results mark the first major news test of Bravura’s AIM listing, admitted on 28 July alongside its existing ASX primary listing. The scale of the two-day rally suggests London-hours trading in the stock remains thin against news that lands during Australian trading hours.
Bravura’s dividends are unfranked and its dividend reinvestment plan remains suspended. The final and special dividend go ex-dividend on 24 August, with a record date of 25 August and payment due on 3 September.