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Brady sees “substantial progress” in first four months of 2018

Executive chairman Ian Jenks said the trading and risk management software provider had seen trading in-line with management expectations

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Jenks also highlighted a deal with Norwegian utility company Ustekveikja Energi

Brady Plc (LON:BRY) has seen “substantial progress” in the four months of the year following the completion of a restructuring in March, according to executive chairman Ian Jenks.

In a statement to be read at the annual general meeting, Jenks said the AIM-listed trading and risk management software provider had seen trading in-line with management expectations and had continued to invest in core technology.

READ: Brady says restructuring complete, expects improvement

Jenks also highlighted a deal struck in March with Norwegian utility company Ustekveikja Energi AS for Brady to support its physical power market in the Nordic region.

He added that the company had also launched its new FAST START implementation offering for metals trading lifecycle management in May, a preconfigured cloud-based solution which enables clients to trade immediately.

Jenks said: “We have recruited new people, considerably streamlined the organisation and we are now seeing the results of this across the business as we continue to move towards our goal of being a high quality, scalable software business.”

In March, Jenks said that: “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: 12 GBX

AIM:BRY
Market: AIM
Market Cap: £10 m
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