22 Jul 2014 07:00
22 July 2014
Brady plc ("Brady" or the "Group")
Trading Statement
Brady, the leading global provider of commodity, energy and recycling software for transaction processing and risk management, is pleased to provide a trading update for the half year to 30 June 2014.
Trading for the first half of the year has been in line with management's expectations, delivering strong earnings growth compared with the first half last year. The Group remains on track to deliver full year results in line with market expectations.
The Energy business unit has made substantial progress in signing seven deals in the period, including the migration of three clients to the go-forward platform, which actively endorses the Group product strategy. The business has also significantly reduced its cost base compared to the corresponding period last year.
The Commodities business unit has remained focused on delivering its significant projects and recognising its backlog revenue.
The Recycling business unit has shown strong growth, having signed three new customers and successfully delivering two major projects.
Gavin Lavelle, CEO of Brady plc, commented: "I am delighted at the momentum in the business, successfully delivering to our clients and signing new customers around the globe, resulting in both organic growth and increased margin. As the markets continue to focus on business efficiency, visibility, compliance and performance, our sales pipeline remains strong, affording me every confidence that we will be able to maximise on these opportunities. I look forward to providing a more detailed commentary in the Interim Report"
Full details of the Group's financial performance for the period will be provided in the Interim Results, which are expected to be announced on 9 September 2014.
For further information please contact:
Brady plc Gavin Lavelle, Chief Executive Officer Martin Thorneycroft, Finance Director | Telephone: +44(0)1223 479479 |
Cenkos Securities plc Ivonne Cantu / Camilla Hume Alex Aylen (Sales)
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Telephone: +44 (0)20 7397 8900 |
Redleaf Polhill Rebecca Sanders-Hewett / Charlie Geller / David Ison | Telephone: +44 (0)20 7382 4730
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About Brady
Brady plc (BRY.L) is the largest European-headquartered provider of trading and risk management software to the global commodity and energy markets. Brady combines fully integrated and complete solutions supporting the entire commodity trading operation, from capture of financial and physical trading, through risk management, handling of physical operations, back office financials and treasury settlement, for energy, refined, unrefined and scrap metals, soft commodities and agriculturals.
Brady has 25 years' expertise in the commodity markets with some 300 customers worldwide, who depend on Brady's software solutions to deliver vital business transactions across their global operations. Brady clients include many of the world's largest financial institutions, trading companies, miners, refiners and producers, recycling companies, scrap processors, tier one banks and a large number of London Metal Exchange (LME) Category 1 and 2 clearing members and many leading European energy generators, traders and consumers.
For further information visit: www.bradyplc.com
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