19 January 2010, London: Brady plc (BRY.L), the leading provider of trading, risk management and settlement solutions to the world's metals and commodities sectors, announced today an update on trading performance for the full year to 31 December 2009. Today's announcement is ahead of the publication of preliminary results expected on 10 March. The preliminary results will include fuller details of the Group's financial performance for 2009 together with an outlook for 2010.
The Group has achieved strong growth across all its revenue streams including recurring maintenance, licences and associated services. Growth has continued in both the organic business and the Comsoft acquisition, announced in January 2009, which in particular continues to outperform initial expectations.
Gavin Lavelle, CEO of Brady, commented: "With revenue growth of approximately 30% compared to 2008, increased profitability and a cash-dominated balance sheet, it has been a good year for Brady. This is a strong performance in the face of challenging economic conditions and the Group anticipates exceeding the market forecasts for revenues for 2009."
The Group has continued to invest in its commercial resources, delivery capability and headcount and expects to meet the market forecasts for 2009 for operating profit and profit before taxation on ordinary activities.
Editorial contact for Brady
John Norris
Moonlight Media
Tel: +44 (0) 20 7250 4770
Email: john@moonlightmedia.co.uk
Notes to Editors:
About Brady
Brady plc (BRY.L) is a leading global provider of trading and risk management software to the global commodity markets. On a single platform Brady combines fully integrated and complete solutions supporting the entire commodity trading operation, from capture of financial and physical trading, through risk management, handling of physical operations, back office financials and treasury settlement, for refined and unrefined metals. Brady has more than 20 years of expertise in the commodity markets with 60 customers worldwide, including some of the largest financial institutions and mining corporations that depend on Brady's software solutions to deliver vital business transactions across their global operations. Brady clients include many of the world's largest miners, refiners and producers, tier one banks and a large number of London Metal Exchange (LME) Category 1 and 2 clearing members. For further information visit: www.bradyplc.com