In addition, operating profit grew by 43% to Â£1.0 million and profit after taxation is up by 34% to Â£1.1 million. Earnings per share increased by 38% to 3.77 pence per share.
The business plan, implemented in 2008, established the core principles for delivering Bradyâs global strategy and is seen as the foundation for continuing growth. The new signings of Trinity licence agreements include a global metals powerhouse in South America and a landmark deal with a significant London-based gold clearer. A global deal with Mitsubishi is an important early success from our Asian operation, established in 2009. These deals demonstrate that Brady can deliver solutions to some of the best enterprises in the market around the globe.
The successful integration of the Comsoft acquisition, completed in January 2009, is also contributing to Bradyâs strong performance. The acquisition added valuable functionality and expertise as well as providing additional clients and market sector capability to the risk management, end-to-end trading and settlement technology, for which Brady is renowned.
These results show clearly the advantages of a single source solution for the highly complex trading and risk management of both the refined and raw materials market; Bradyâs clients have been quick to recognise the potential for increased efficiency and cost savings across their entire infrastructures combined with improved risk management and hedging.
Gavin Lavelle, CEO of Brady, commented: âOur substantial growth in 2009, building upon that of 2008, is a testament to our unique solution for trading and risk management of metals and commodities and provides a solid foundation for continued year-on-year success. We maintain a strong balance sheet, with Â£6.1 million of net cash at 28 February 2010, giving us a strong basis to continue carrying through our strategies for ongoing expansion.â