Brady ended the year strongly, securing five new contracts in the last six weeks of the year worth in total around £3m and taking the total number of new substantial contracts to 13. Revenue for these contracts will be recognised in 2014.
The Company expects to report revenues of £29.3m and adjusted EBITDA(1) of approximately £3.6m. This reflects the timing of revenue recognition for the recently signed contracts and the unfavourable currency movement of the Norwegian Krone in the last two months of the year. Cash at year end is expected to be £6.7m (2).