Bravura Solutions reports robust half-year growth with nearly 10% revenue increase, a fresh leadership appointment, and strategic expansion into the UK pensions market.
- Underlying revenue rises 9.8% to $140 million
- Underlying NPAT surges by $14.6 million to $25.9 million
- New CEO Colin Greenhill starts January 2026
- Major client integration projects underway in EMEA and APAC
- Interim and special dividends declared totaling $45.9 million
Strong Financial Performance
Bravura Solutions Limited has delivered a compelling half-year performance for the six months ending December 31, 2025, with underlying revenue climbing to $140 million, marking a 9.8% increase year-over-year. The company’s underlying net profit after tax (NPAT) rose sharply by $14.6 million to $25.9 million, while underlying cash EBITDA reached $34.2 million, reflecting a healthy 24.4% margin. These figures underscore Bravura’s solid footing in the competitive financial software solutions sector.
Leadership Transition and Strategic Initiatives
January 2026 saw the arrival of Colin Greenhill as Bravura’s new CEO, signaling a fresh chapter for the company. Under his leadership, Bravura has already embarked on two significant client integration projects across the EMEA and APAC regions, reinforcing its global footprint. Notably, the company secured a key agreement to support a client’s entry into the expanding UK Workplace Pensions market, a move that could unlock new growth avenues amid evolving regulatory landscapes.
Balance Sheet Strength and Dividend Policy
Bravura ended the half with a robust balance sheet, holding $64.5 million in cash and carrying no debt, positioning it well for future investments or strategic opportunities. The board declared an interim dividend of $25.9 million, equivalent to 5.77 cents per share, alongside a special dividend of $20 million (4.46 cents per share). Both dividends are unfranked, with the dividend reinvestment plan currently suspended, reflecting a cautious but shareholder-friendly approach.
Outlook Amid Challenges
While the company’s midpoint guidance for the second half of 2026 anticipates increased profitability and cash EBITDA, it also factors in the impact of a previously announced attrition event effective from January 1, 2026, and less favourable foreign exchange conditions. Growth with existing customers is expected to more than offset these headwinds, but the evolving macroeconomic environment will require careful navigation.
Governance Update
In governance news, the board reclassified Mr Dexter Salna as an independent non-executive director following his departure from Constellation Software’s board. This change may influence board dynamics as Bravura continues its growth trajectory.
Bottom Line?
Bravura’s strong half-year results and strategic moves set the stage for a pivotal 2026, but market and currency risks loom.
Questions in the middle?
- How will new CEO Colin Greenhill’s leadership influence Bravura’s strategic direction?
- What impact will the UK Workplace Pensions market entry have on future revenue streams?
- When might the dividend reinvestment plan be reinstated, and what does its suspension signal?