Brady plc Trading Update (3278O)
29 January 2019 - 6:00PM
UK Regulatory
TIDMBRY
RNS Number : 3278O
Brady plc
29 January 2019
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 GBP23m and adjusted
EBITDA is expected to be around GBP2.6m, which are broadly in line
with consensus market expectations. Net cash at the year end was
GBP4.6m (31 December 2017: GBP4.4m 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 18(th) 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 plc Telephone: +44(0)1223 479479
Ian Jenks, Executive Chairman
Martin Thorneycroft, Finance Director
Cenkos Securities plc - NOMAD and Telephone: +44 (0)20 7397
Broker 8900
Mark Connelly - Corporate Finance
Newgate Communications Telephone: +44 (0)20 7653
Bob Huxford/ Ian Silvera 9848
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
Brady plc: Twitter/Facebook/LinkedIn
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END
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