Brady plc AGM Statement (7619P)
31 May 2018 - 4:00PM
UK Regulatory
TIDMBRY
RNS Number : 7619P
Brady plc
31 May 2018
31 May 2018
("Brady", the "Company" or the "Group")
Trading Statement
Brady plc (BRY.L), a global provider of trading, risk management
and settlement solutions to the energy and commodities sectors is
holding its AGM today.
At the AGM, Ian Jenks, Executive Chairman of Brady plc, will
make the following statement:
"The Company has made substantial progress in the first four
months of the year and, as a result, we are delighted to report
that trading is in line with management's expectations. We have
continued to invest in the core technology that we believe will
drive the business forward in years to come and we are seeing the
benefits of this investment.
We have recruited new people, considerably streamlined the
organisation and we are now seeing the results of this across the
business as we continue to move towards our goal of being a high
quality, scalable software business.
A particular highlight of the year to date was in March 2018
when Ustekveikja Energi AS, a municipal owned Norwegian utility,
selected Brady EDM to support its physical power market operations
in the Nordics. In what was a competitive tender, we were able to
demonstrate that our solution covered; data communications, market
interfaces, short-term trading, core energy data and meter
management, reconciliations and settlement, integration with their
accounting system and that our EDM-WEB portal was best in class. We
believe Ustekveikja Energi AS' selection of Brady EDM demonstrates
the core strengths of our EDM software in its flexibility and
ability to adapt to market changes.
In May 2018 we launched our new FAST START implementation
offering for metals trading lifecycle management. This is a
preconfigured cloud based solution which enables clients to trade
immediately and significantly reduces the cost, time, upheaval and
effort associated with a system's implementation and should
re-enforce our position as class leader in metals trading.
I look forward to providing a further update in the Interim
Results which will be released in September."
For further information please contact:
Brady plc Telephone: +44(0)1223 479479
Ian Jenks, Executive Chairman
Martin Thorneycroft, Finance Director
Cenkos Securities plc Telephone: +44 (0)20 7397 8900
Camilla Hume/ Mark Connelly
Redleaf Communications Telephone: +44 (0)20 7382 4730
Charlie Geller / Ian Silvera
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 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, 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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END
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