The preliminary results for 2010, announced today, demonstrate substantial growth following the signing of 12 significant new contracts and 2 successful acquisitions. Brady Switzerland introduced softs and agriculturals into the portfolio and Brady Energy brought extended asset class coverage to include the energy markets; primarily electricity, gas, coal, and emission certificates.
The sustained growth and further expansion has seen the Group strengthen its position as an international leader within the commodities and energy sectors. The highlights of 2010 include 12 significant new contracts, 15 more successful installations around the world, 2 strong acquisitions and a substantial share placing, all of which continue to demonstrate the success and support of the Groupâs strategy.
Paul Fullagar, Chairman of Brady plc, commented, âThe Group has continued to deliver strong growth in both revenue and underlying profitability in 2010 and has secured a number of new client wins, which is all the more encouraging given the challenging economic conditions.â
He continued, âFollowing the share placing in December, the Company has significantly increased its institutional shareholder base, with excellent support from both existing and new shareholders. I am particularly pleased to welcome a number of new shareholders to Brady and look forward to reporting further positive progress in the months to come.â
Gavin Lavelle, CEO of Brady, said, âI am delighted with our preliminary results for 2010 and the way the Groupâs growth strategy continues to bear fruit. With revenues, profitability and cash generation all up, we are well positioned to capitalise on the market rebound. The Group starts 2011 with over 150 clients demonstrating that Brady is a leading player in the natural resource technology sector. We are well placed to capitalise on what we see as an attractive market opportunity.â