Sign up
Tech Capital

Brady says restructuring complete, expects improvement

“In 2018 we expect to resume progress in both sales and profitability and look to the future of the Group with confidence,” said Ian Jenks, executive chairman
trading screens
Consolidation period is over, says Ian Jenks

Commodities trading software specialist Brady Plc (LON:BRY) has completed most of its ‘streamlining and re-calibration’, said Ian Jenks, executive chairman.

The group recently sold its US recycling business, which has bolstered a year-end cash position of £4.1mln by an additional £3.6mln, he added.

WATCH: Brady chief eyes recovery after root and branch overhaul

“The fundamental pillars of the plan that we set out in last years' annual report have continued and, as a result, we are firmly on course to deliver a growth company with strong IP, a strong base of blue chip customers, a high-quality revenue stream and a high level of recurring earnings". 

Net losses in 2017 rose to £6.3mln (£2.7mln) on revenues of £22.9mln (£25.4mln).

For 2018, the group has committed revenues of approximately £19mln, Jenks added.

“The period of consolidation and re-structuring is complete; in 2018 we expect to resume progress in both sales and profitability and look to the future of the group with confidence.”

Register here to be notified of future BRY Company articles
View full BRY profile View Profile

Brady sells US recycling business

View All

Related Articles

Financial chart
The portfolio analytics platform operator has been shrewd in its acquisition policy and the purchase of Delta from UBS may just be the best acquisition yet

© tech Capital 2018

Tech Capital, a subsidiary of Proactive Investors, acts as the vanguard for listed tech companies to interact with institutional and highly capitalised investors.
Headquartered in London, Tech Capital is led by a team of Europe's leading analysts and journalists, publishing daily content, covering all key movements in the Technology market.