Proactive Investors - Run By Investors For Investors

Brady launches new software solution as it begins new chapter following restructuring

The product will help companies in the commodities and energy sectors by automating the processes required to ensure compliance with the FCA's regime
Software data
The launch is the firm’s first new product since completing a restructuring earlier this year.

In October, commodity trading software group Brady Plc (LON:BRY) launched a new cloud-based compliance software solution designed to support global commodity and energy firms manage risk across their organisations.

The product - Brady Accountability Compliance - will help companies in the commodities and energy sectors by automating the processes required to ensure compliance with the requirements of the Financial Conduct Authority's senior managers regime, certification regime and conduct rules (SM&CR).

Brady also said the accountability compliance software could be implemented either as either a cloud hosted or on-premise solution in a very short space of time, ensuring that frameworks, data, records and appropriate outcomes can be put into place quickly.

The launch is the firm’s first new product since completing a restructuring earlier this year.

The root and branch overhaul saw the group’s US recycling business sold in order to focus on power trading software including an off-the-shelf energy trading and risk management solution.

This is used by some of Europe’s largest energy companies to automate logistical tasks and trade commodities across markets.

In short, they help the companies that keep the lights on…keep the lights on.

Deficit slashed

In its half-year results in September, Brady reported that its underlying losses had fallen to £424,000 from £1.24mln with flat revenues of £10.5mln as the benefits of the restructuring actions taken last year began to come through.

Four new contracts were renewed in the first half worth £2.8mln, with two additions worth £0.6mln. Gross margins improved slightly to 55% while recurring revenues held at 74% of the total.

The company has also retained some of its existing clientele through the restructuring, with the trading arm of German energy giant RWE renewing its license to use Brady’s Credit Risk software in November 2017 for a further 5 years.

At the time, Brady chief executive Ian Jenks said the results had been “reassuringly boring” with a “substantial improvement” in the group’s overall performance.

Jenks added that the firm now has visibility over 95% of its revenues into the second half, with the main priorities for the rest of 2018 including completion of several legacy projects before focusing on “new and innovative products”.

With shares trading at around 65p, Brady carries a market cap of £54.3mln.

View full BRY profile View Profile

Brady PLC Timeline

Article
March 25 2019

Related Articles

StatPro Revolution
May 24 2019
On 20 May the company secured a three-year contract extension for its Revolution platform from a top 20 fund administrator carrying a price tag of at least £2.44mln
man with mobile biometric tracking device
March 20 2019
Ipsidy has seen the market for its proprietary biometric technology explode after the hacks of Equifax Inc, Target Corp and Home Depot
.com domain
April 08 2019
Minds & Machines full-year 2018 results showed an ‘exceptionally strong’ start to the current year, with recurring revenues now accounting for the majority of income

© Proactive Investors 2019

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