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Bravura share price soars on profit guidance update

The Bravura Solutions Ltd (ASX: BVS) share price is 5.4% higher at $4.10 today after the enterprise-facing software services business held its AGM today. 

At the meeting its CEO confirmed it’s still on track to deliver “mid teens” net profit growth over FY 2020. It also expects recent acquisitions to contribute another $3 million in net profit over the current financial year. In FY 2019 it delivered a net profit of $32.8 million on revenue of $257.7 million. 

Its core product is the Sonata software wealth management registry system. It provides software for the wealth management and funds administration industries. 

Over fiscal 2019 it paid dividends of 10.1 cents per share on earnings of 15 cent per share. At $4.1o this puts it on 27x trailing earnings with a trailing yield of 2.5%. As such we can see the strong profit growth over FY 2020 is priced into the shares. 

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Tom Richardson has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. owns shares of Bravura Solutions Ltd. The Motley Fool Australia has recommended Bravura Solutions Ltd. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.