The fintech, which underwent a restructuring and management overhaul last year, posted adjusted underlying earnings (EBITDA) of £2.6mln, compared to a loss in 2017 of £307,000.
Loss before tax and exceptional items narrowed substantially to £870,000 from £4.53mln the previous year; including exceptional items, the loss was £1.14mln versus a loss the preceding year of £6.97mln.
Revenues rose 4% to £23.2mln from £22.2mln the year before. Recurring revenues increased by 2% to £16mln. Committed revenues for the current year are already up to around £18mln.
Cash costs in the year were reduced by £1.1mln and the group ended the year with net cash of £4.6mln, up from £4.1mln a year earlier, helped by the £2.9mln cash proceeds from the sale of the company's Recycling business.
We will be at E-world, and this year we have our own stand!— Brady Plc (@Bradyplc) January 11, 2019
We invite you to visit us and meet with our experts to discuss current market trends and learn how Brady’s products can help you meet the challenges ahead.@EworldEssen #energy #riskmanagement https://t.co/teHjPj8uaW pic.twitter.com/sxKoPle9vf
“Implementation of the plan set out in the last two annual reports remains on track as we leverage the foundations we have established to deliver high-quality customer relationships and growth in line with commitments made to our employees, customers and shareholders. Going into 2019, we look to the future with confidence,” the company said.