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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

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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.”

Quick facts: Brady PLC

Price: 17.7 GBX

AIM:BRY
Market: AIM
Market Cap: £14.76 m
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