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Bravura lowers financial forecasts by £1.2m

Bravura has lowered its financial forecasts for the financial year ending June 30 by £1.3m

In an Australian Securities alert today, the technology firm says the revised forecast is a result of deteriorating economic conditions, which it says have “adversely affected Bravura’s client base”.

Revenue was previously forecast to be in the range of £68.1m to £70.6m, or AUS$137.7m to AUS$142.7m. It is now £66.8m to £69m, or AUS$135m to AUS$140m.

It has also revised its earnings before interest, taxes, depreciation and amortisation from £9.4m to £11.9m, or AUS$19m to AUS$24m, to £7.9m to £9.4m.

Bravura group chief executive officer and managing director Iain Dunstan says: “Despite the revised forecast we are still particularly pleased with our strong performance given the current global financial crisis.

“Our revenue and EBITDA results are expected to very closely match those from the previous financial year.”

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