Sign up United Kingdom
Proactive Investors - Run By Investors For Investors

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.”

View full BRY profile View Profile

Brady Plc Timeline

January 25 2018

Related Articles

Top-level domains
October 11 2018
In its interims, management undertook a full review of historic legacy agreements that led to a final US$721,000 final restructuring payment made against one agreement and an onerous contract provision on another resulting in a one-time write down for future expected losses of US$7mln with an associated US$4.1mln reduction in intangible assets to US$81.5mln.
Virtual Reality headset
May 02 2018
The integration of the group's Apollo 11 experience into the Oculus Go launch package has seen its share price rocket up over 40%
mobile phone user
September 19 2018
“We want to be in situation where we are processing the lion’s share of the biggest merchants’ digital business to mobile users”

No investment advice

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is suitable or advisable for any specific person. You further understand that none of the information providers or their affiliates will advise you personally concerning the nature, potential, advisability, value or suitability of any particular security, portfolio of securities, transaction, investment strategy, or other matter.

You understand that the Site may contain opinions from time to time with regard to securities mentioned in other products, including company related products, and that those opinions may be different from those obtained by using another product related to the Company. You understand and agree that contributors may write about securities in which they or their firms have a position, and that they may trade such securities for their own account. In cases where the position is held at the time of publication and such position is known to the Company, appropriate disclosure is made. However, you understand and agree that at the time of any transaction that you make, one or more contributors may have a position in the securities written about. You understand that price and other data is supplied by sources believed to be reliable, that the calculations herein are made using such data, and that neither such data nor such calculations are guaranteed by these sources, the Company, the information providers or any other person or entity, and may not be complete or accurate.

From time to time, reference may be made in our marketing materials to prior articles and opinions we have published. These references may be selective, may reference only a portion of an article or recommendation, and are likely not to be current. As markets change continuously, previously published information and data may not be current and should not be relied upon.

© Proactive Investors 2018

Proactive Investors Limited, trading as “Proactiveinvestors United Kingdom”, is Authorised and regulated by the Financial Conduct Authority.
Registered in England with Company Registration number 05639690. Group VAT registration number 872070825 FCA Registration number 559082. You can contact us here.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use