Trading in line with market expectations
Four new contract wins since 17 December
Cash ahead of market expectations
Cost cutting initiatives that were notified in the 30 November Trading Update have now been completed
Brady, the leading global provider of trading risk management and settlement solutions to the energy, commodities and recycling sectors, is pleased to report that it has secured four new contracts since its last update on 17 December 2015.
Recent contract wins were geographically diverse and include: a deal with a Chinese-owned company based in Singapore, a renewable energy company in Norway and two significant trading teams based in Switzerland.
Cash on 31 December 2015 was £6.5 million, which is ahead of market expectations and December’s trading was in line with management’s expectations. Full year results are expected to be in line with current market forecasts.
For further information please contact:
Gavin Lavelle, Chief Executive Officer
Martin Thorneycroft, Chief Financial Officer
Telephone: +44(0)1223 479479
Cenkos Securities plc
Ivonne Cantu / Oliver Baxendale (Sales)
Telephone: +44 (0)20 7397 8900
Charlie Geller / Harriet Lynch
Telephone: +44 (0)20 7382 4730
Brady 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, to back office financials and treasury settlement for energy, refined, unrefined and scrap metals, soft commodities and agriculturals.
Brady has 30 years’ expertise in the commodity markets with some 400 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.bradytechnologies.com