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Brady sees “positive” outlook for 2019 following in line trading update

The firm said it expected underlying earnings (EBITDA) for the year of around £2.6mln with revenues of £23mln, broadly in line with market expectations
Trading software
Brady provides trading and risk management software to companies

Brady Plc (LON:BRY) has said its outlook for 2019 “continues to be positive” as it issued an in line trading update for the year ended 31 December.

The firm, which provides trading and risk management software, said it expected underlying earnings (EBITDA) for the year of around £2.6mln with revenues of £23mln, broadly in line with market expectations, with recurring revenues making up 70% of the total.

READ: Brady appoints new chief executive as executive chairman switches to non-exec

Net cash at year end was £4.6mln, up slightly on the total of £4.4mln a year ago.

The company also said that its new chief executive, Carmen Carey, would take the reins from 18 February following an announcement in December when it said its executive chairman Ian Jenks would switch to a non-executive role.

“The new customers we have engaged with and, as importantly, the ones with whom we have been working with for years, are a testament to the increasing strength of our offering. We have made substantial progress in evolving our technology solutions and have extended the scope of the value proposition we can deliver to our customers”, the company said.

In early trading Tuesday, Brady shares were flat at 63.5p.

--Adds share price--

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Brady PLC Timeline

March 25 2019

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