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Brady delivers festive cheer with three new contract wins

This morning’s announcement reveals the company has landed three chunky new contracts.
Brady delivers festive cheer with three new contract wins
Brady's software is used by commodity traders.

Is the tide turning for Brady plc (LON:BRY), supplier of trading and risk management solutions for metals, recycling, energy and soft commodities?

Possibly. This morning’s announcement reveals the company has landed three chunky new contracts, bringing a bit of festive cheer.

The firm said two top-tier global Japanese-owned trading companies have selected Brady Cloud solutions to support their trading and risk management requirements.

They will use the technology across base and precious metals, soft commodities and freight.

Separately, a European firm focused on delivering clean energy to large industrial and commercial consumers has selected Brady’s energy trading and risk management solution to manage its renewable energy trading, position, risk and back-office operations.

No financial details were given.

The Brady share price has been hit hard in recent weeks after it warned of delays to, rather than cancellations of, a number of key contracts.

This was a result of the shake-up in the commodities sector that saw some potential customers defer expenditure.

“The deals haven’t gone away,” chief executive Gavin Lavelle told Proactive recently. “They have just been pushed into 2016."

A cash generative business, it has around £4mln in the bank.

While no formal decision has been made by the board on the dividend, analysts reckon it can afford to pay out around 2p a share this year.

That equates to a dividend yield of 4.4% - which is better than keeping your cash in the building society.

A recent swoop by Kestrel Investment Partners saw the tech-savvy firm take its total holding up a further 4% to 18%.

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Newswire
May 13 2016

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