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29 Jan 2019 07:00
29 January 2019
Brady plc
("Brady", the "Company" or the "Group")
Trading Update
The Company announces that revenues for the year ended 31 December 2018 are expected to be approximately £23m and adjusted EBITDA is expected to be around £2.6m, which are broadly in line with consensus market expectations. Net cash at the year end was £4.6m (31 December 2017: £4.4m net cash). Recurring revenues make up approximately 70% of the revenue number.
In 2018, Brady continued to make significant progress in delivering on its strategy, including several customer-focused projects. The outlook for the Company in 2019 continues to be positive as we look to benefit from the groundwork laid not just during 2018 but also in previous years.
The new customers we have engaged with and, as importantly, the ones with whom we have been working with for years, are a testament to the increasing strength of our offering. We have made substantial progress in evolving our technology solutions and have extended the scope of the value proposition we can deliver to our customers.
As announced on the 19th of December, Carmen Carey will commence as CEO with effect from 18th February 2019. The Board is confident that she will provide the leadership skills required to drive our focus on customers and innovation underpinned by the quality of our people.
For further information, please contact:
Brady plcIan Jenks, Executive ChairmanMartin Thorneycroft, Finance Director | Telephone: +44(0)1223 479479 |
Cenkos Securities plc - NOMAD and BrokerMark Connelly - Corporate Finance
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Telephone: +44 (0)20 7397 8900 |
Newgate CommunicationsBob Huxford/ Ian Silvera | Telephone: +44 (0)20 7653 9848
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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 and unrefined, soft commodities and agriculturals.
Brady has 30 years' expertise in the commodity markets and its clients include many of the world's largest financial institutions, trading companies, miners, refiners and producers, tier one banks, 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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