Brady announces 33% growth in sales

London - 10 March 2010

Brady plc (BRY.L), the leading supplier of trading and risk management solutions for metals and commodities, has announced another successful trading year. The newly released preliminary results for the year ending 31 December 2009 show significant growth, contributed to by six major new Trinity licence agreements, nine new clients reaching project acceptance or going live and the positive acquisition and integration of Comsoft.

In addition, operating profit grew by 43% to £1.0 million and profit after taxation is up by 34% to £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 Brady’s 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 Brady’s 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; Brady’s 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: “Our 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 £6.1 million of net cash at 28 February 2010, giving us a strong basis to continue carrying through our strategies for ongoing expansion.”

Become a bobsguide member to access the following

1. Unrestricted access to bobsguide
2. Send a proposal request
3. Insights delivered daily to your inbox
4. Career development