Bravura (BVS) provides soft guidance, shares tank
FY21 Result: BVS have reported an inline result this morning for FY21, all metrics very close to expectations however guidance for mid-teen growth at the NPAT line in FY22 is an issue, that implies ~$38m profit, the market is at $42m. They do see increasing market confidence in the UK which is key for them and they also announced CEO transition after 10 years in the job, with current CTO Nick Parsons taking over as CEO having been with BVS since 2007. While the guidance is a miss, the market reaction is overblown with shares trading ~16% lower
MM intends to hold BVS
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