BUZZ-Australia's Bravura Solutions soars on dividend resumption, forecast hike

Reuters02-12

** Shares of wealth management software firm Bravura Solutions BVS.AX up 16% at A$2.680

** Stock rises as much as 20.4% earlier in the day to A$2.780, their highest since August 24, 2021

** Stock top gainer in the ASX All Ordinaries index .AORD

** Co resumes dividend payment, declares special dividend of 8.92 Australian cents per share and an interim dividend of 1.6 Australian cents apiece

** Last time it paid dividend was in 2022

** Co hikes FY25 cash EBITA forecast to between A$38 million ($23.91 million) and A$41 million, from A$28 million-A$32 million previously expected

** Posts 1H25 underlying NPAT of A$11.3 million, slightly below Visible Alpha consensus of A$12.6 million

** Suspends on market buy-back; it had announced A$20 million buyback August last year

** More than 1.2 mln shares change hands, vs the 30-day average of 921,000 share

** Stock up about 28% this year, including day's moves

($1 = 1.5893 Australian dollars)

(Reporting by Jasmeen Ara Shaikh in Bengaluru)

((Jasmeenaraislam.shaikh@thomsonreuters.com))

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap
Leave a comment