Brady Technologies (“Brady” or the “Group”)
Brady, the leading global provider of commodity, energy and recycling software is pleased to provide a trading update for the half year to 30 June 2015.
The Group continues to show global leadership in the metals business as well as increasing its global presence in the recycling business. Following a successful competitive tender, Brady signed a major deal with one of the world’s largest commodity companies to support their global refined metals and raw materials activities. Additionally Brady was pleased to be appointed by a world leading recycling company, to deploy the Group’s systems in Australasia, as part of the recycling company’s strategic expansion.
The Energy business unit made further substantial progress by signing six new deals, including two migrations to Brady’s go forward energy trading and risk management platform.
The Board was pleased that during the period the Group signed a total of nine new contracts compared to seven last year, especially given the challenging market conditions in the sectors in which we operate. Whilst we expect first half revenues to be slightly lower than last year, it is this deal momentum and strong sales pipeline going into the second half which we expect will deliver the anticipated full year on year sales growth and the Group remains on track to deliver full year results in line with market expectations. .
Gavin Lavelle, CEO of Brady, commented: “I am delighted to have signed major deals with world leaders across our three business units. The metals deal is with a top class name, supporting their physical and derivatives trading activities in nine locations around the world. The recycling deal extends the company’s use of our software in the Asia Pacific region, with the next step being to complete world-wide deployment across its European sites. The Board believes these deals demonstrate our ability to execute globally with some of the largest players in the industry.
I am also pleased to see the upward momentum in our Energy business continue; growth in revenue and earnings has been the result of six new contract wins in the period. Our enlarged business is well positioned to capitalise on the powerful drivers in the market.
I look forward to providing a more detailed commentary in the Interim Report”
Full details of the Group’s financial performance for the period ended 30 June 2015 will be provided in the Interim Results, which are expected to be announced on 7th September 2015.
For further information please contact:
Gavin Lavelle, Chief Executive Officer
Martin Thorneycroft, Finance Director
Telephone: +44(0)1223 479479
Cenkos Securities plc
Ivonne Cantu/ Camilla Hume
Oliver Baxendale (Sales)
Telephone: +44 (0)20 7397 8900
Charlie Geller / David Ison
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, 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 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.bradytechnologies.com