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Brady recurring revenues in line for first half

The trading and risk management solutions firm also said it expected new business bookings in its second half

Brady PLC - Brady recurring revenues in line for first half

Brady PLC (LON:BRY) had reported that recurring revenues for the first half of its financial year have been in line with expectations.

However, the trading and risk management solutions firm also said a pipeline of revenue from new customers would not materialise during the year as forecast, and as such would impact its EBITDA performance and generate full-year revenues of around £19mln.

READ: Brady appoints interim chief technology officer

Despite this, Brady said new business bookings were anticipated in the second half of the year, while a turnaround of the business since the appointment of Carmen Carey as chief executive in December 2018 had continued to “build momentum focused on customer engagements, delivering major contracts and maturing the new business pipeline”.

The company also said it had concluded a strategic product review, which going forward would inform its business strategy to “align, optimise and advance” its product portfolio.

Brady will publish its interim results on 23 September.

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