News Column

Brady Says On Track To Meet Market Expectations In 2014

July 22, 2014

Samuel Agini

LONDON (Alliance News) - Brady PLC, which provides commodity, energy and recycling software for transaction processing and risk management, Monday said that it remains on track to deliver full-year results in line with market expectations.

In a statement, Brady said that trading in the six months ended June 30 was in line with management expectations, with "strong earnings growth" compared with the corresponding period last year.

Brady said its 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, while the unit has also significantly reduced its cost base compared with the corresponding period last year.

Brady said that its commodities business unit has remained focused on delivering its "significant projects and recognising its backlog revenue". In addition, Brady reported "strong growth" in its recycling business unit.

"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," Chief Executive Gavin Lavelle said in a statement.

"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," Lavelle added.

Brady shares were Tuesday quoted up 0.7% at 76.00 pence.

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Source: Alliance News

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