Brady Customers testify to its innovative and flexible European energy trading and risk management system

Brady’s exceptional dexterity, enables customers to effectively facilitate cross-border trading whilst reducing operational risk throughout the trading cycle.

Brady’s customers testify to the successes of implementing its sophisticated ETRM platform.

Brookfield Renewable Partners

In 2015 Brookfield Renewable Energy Europe selected Brady Power Scheduling solution to manage its power scheduling activities in the UK. At the time of the announcement, Ruth Kent, Head of Power Marketing at Brookfield Renewable Europe, commented, “Brady’s unique ability to handle more European markets with a single product provided us with a scalable and flexible solution for our scheduling requirements that can adapt to our business as we continue to expand in Europe.”

Brookfield Renewable Partners operates one of the world’s largest publicly traded, pure-play renewable power platforms. The company’s portfolio consists of hydroelectric, wind, solar, and energy storage facilities in North America, South America, Europe, and Asia, and totaling over 17,000 megawatts of installed capacity and an 8,000-megawatt development pipeline. In Europe, Brookfield Renewable’s portfolio consists of more than 500 MW of operating wind capacity and a development pipeline of approximately 800 MW across Ireland, the UK, and Portugal.

Brookfield Renewable Ireland Limited

In 2017 Brookfield Renewable Ireland Limited, a leading owner, operator and developer of wind assets in Ireland selected Brady’s I-SEM Cloud solution for electricity trading and settlement in the new Integrated Single Electricity Market (I-SEM). At the time, Brookfield Renewable Ireland commented, “Brady’s trading and settlement system offered us the capability to build a single bespoke solution to meet the requirements of I-SEM and importantly with the flexibility and scalability to grow with our business as we enter new European markets.”

BayWa r.e. Clean Energy Sourcing (CLENS)

Brady implemented its ETRM solution for BayWa r.e. Clean Energy Sourcing (CLENS), which has been one of the leading direct marketers and suppliers of green energy in Germany. The company offers a wide range of energy-related services and products, starting with the marketing of decentralized renewable energy and CHP plants and including extensive flexibility management and the supply to industrial and commercial customers with green energy. CLENS have been using Brady’s ETRM and Power Scheduling solutions for several years.

In January 2019 CLENS decided to implement the Brady Credit Risk solution as well. The customer noted, “Having been a customer of Brady since 2010, we are highly impressed by the team’s understanding of our business and the professional partnership that we have enjoyed to date. This coupled with Brady’s unique position in being able to cover almost all European markets within one modern technology platform, made Brady the right partner for CLENS.” 

The Brady innovation

Known for its established position as an enabler for customers, Brady also brings a remarkable innovative potential to the energy market. “We strongly believe in harnessing the collective knowledge of the open source community to enable us to fast track our technology strategy,” affirms Aleksandar Sasha Cvetkovic, Head of Energy Portfolio. As a part of this strategy, Brady readily utilizes many popular open source frameworks and components including vendor-neutral API applications. The benefit of this approach enables the company to stay ahead of the current risks and helps in maintaining bespoke libraries and frameworks that can leverage the knowledge of a multitude of developers available in the open source community. 

The company is also closely monitoring the blockchain development. “By leveraging blockchain, we will be able to simplify the trading workflows and processes and significantly reduce pertinent costs while having an immediate trading confirmation with full visibility of all the participants without any intermediaries,” adds Cvetkovic. 

Along with a promising vision, Brady also brings the richness of experience and ethical business values to the table. As an influencer himself, Cvetkovic’s leadership principles align with Brady’s company values of trust, collaboration and innovation and its strategic focus on customer satisfaction and growth. “What glues us together as an organization is a strong focus on delivering value to our customers and innovative software development. With mutual trust, our people are naturally the fountains of new ideas, fueling better products, services, inspiring creativity and learning” concludes Cvetkovic. 

ABOUT BRADY

Brady PLC is the largest European-headquartered and independent provider of trading, risk management and logistics software solutions to the global commodity and energy markets.

Having 30 years of expertise in commodity markets with more than 10,000 users at over 200 companies worldwide, who depend on Brady software solutions to deliver mission critical business transactions across their global operations.

Offering solutions for end-to-end trading lifecycle management of electricity, gas, emissions, renewables, LNG and LPG, together with physical power and gas balancing, scheduling, data management, settlement management, market and credit risk management.

Brady are committed to keeping their customers ahead of the curve by staying abreast of latest market developments driving innovation in its software, coupled with the deep knowledge and expertise of its people.

Brady ETRM, Empowering Energy Businesses Beyond Borders

Aleksandar Sasha Cvetkovic, Head of Energy Portfolio, spoke with Energy CIO regarding the impact of increased adoption of renewable energy in the European electricity market. He also discussed how Brady’s ETRM solution is designed to manage these market changes and support businesses to stay ahead of the curve. You can view the full article here: https://www.energycioinsights.com/magazines/May2019/ETRM/

Challenges in the market

Cvetkovic discussed, the fluctuation of electrical energy generated from different geographies, creating vast amounts of balance variations with a significant surge in energy prices. This results in distress among energy traders across the continent and a drive for utilities to run major cost-cutting programs. The regulators have become more demanding for advanced reporting and greater transparency in trading activities. 

We are seeing real-time intraday cross-border trading increasing across Europe, providing traders with the right balance for the variations in supply and demand. Brady’s market-ready ETRM platform is the ultimate solution for overcoming complications caused by Europe’s diverse regulatory landscape with regulations varying for many of the 40+ countries.

The most advanced software for today’s energy market

Brady’s extensive ETRM platform provides support for business decision-making and cost management for companies engaging in real-time cross-border trading of energy-related financial and physical contracts. The platform enables energy traders across Europe to be active in newer trading markets with preconfigured solutions for the most widely traded markets and contracts.

 “Brady offers the most advanced software for the energy market, capable of supporting the core business processes involved in physical power delivery,” says Cvetkovic.  

Brady ETRM offers one of the most comprehensive solution portfolios for power-centric market participants, to deal with contract management, real-time position reporting, risk management, back-office operations, plant scenario analytics, retail electricity sales management, energy data management, balancing and scheduling, and communications with transmission system operators (TSOs).

Cvetkovic states, “We bring packaged and locally tailored software solutions and offer them to our customers in an agile and collaborative fashion. We are accountable to our customers, employees and shareholders and are well-positioned to deliver excellence in line with the current and evolving needs of the customers.” 

Automated scheduling workflow

Brady’s ETRM solution uniquely facilitates cross-border intraday trading in a highly efficient manner. Through an automatic scheduling workflow process, Brady ETRM may save three to four hours per day of administrative work for a typical energy logistics department. This enables timely closing of physical power and gas positions, financial gains for trading teams and the ability to react quickly to information received from TSOs to minimize the impact of imbalances within the trading operation. 

Some of the key benefits offered by Brady’s platform are a reduction in operational risk throughout the trading cycle, perfecting the management process and the ability to analyze structured contracts with embedded optionality for optimal decision-making. The company also offers a SaaS powered risk analytics such as value at risk, cash flow at risk across the trading portfolio and meeting the regulatory and audit reporting requirements.  

ABOUT BRADY

Brady PLC is the largest European-headquartered and independent provider of trading, risk management and logistics software solutions to the global commodity and energy markets.

Having 30 years of expertise in commodity markets with more than 10,000 users at over 200 companies worldwide, who depend on Brady software solutions to deliver mission critical business transactions across their global operations.

Offering solutions for end-to-end trading lifecycle management of electricity, gas, emissions, renewables, LNG and LPG, together with physical power and gas balancing, scheduling, data management, settlement management, market and credit risk management.

Brady are committed to keeping their customers ahead of the curve by staying abreast of latest market developments driving innovation in its software, coupled with the deep knowledge and expertise of its people.

 

Brady plc follows its first ever female CEO appointment with the addition of two new non-executive directors

Brady plc, the leading global provider of trading, risk management and settlement solutions to the energy and commodities sectors, has appointed two non-executives to its board following the appointment of Carmen Carey, the first woman to hold the CEO position in a publicly listed ETRM / CTRM software solution vendor, as Chief Executive Officer. Iain Greig and Dan Look join the board as Non-Executive Directors with immediate effect. 

Iain is an experienced CTO and COO with a track record of delivering large-scale technology and business change programs and commercial and operational leadership.  For over 25 years, Iain has specialized in the physical commodities trading and financial services industries, working with globally integrated oil companies, entrepreneurial trading organizations, consultancies, global exchanges and clearing houses. As CTO of LME Clear, Iain led the technical build and successful launch of the new clearinghouse for the London Metal Exchange, going on to run the new business as COO. Most recently, Iain co-founded Ivno, a financial technology startup focused on asset tokenization and blockchain based payments solutions.

Dan is approaching 25 years of experience as a consultant in the energy and commodity sectors with a focus on trading and risk management, initially with Accenture before joining Baringa during its founding stage. At Baringa, Dan led the commodity and energy trading consulting group to become the recognized leader in its field, alongside his role as a Senior Partner in the broader global business. Since retiring from Baringa in 2017, Dan has undertaken a variety of board and advisory roles.

Ian Jenks commented: “I would like to welcome Iain and Dan to the Board. Iain’s technical commodity background and Dan’s knowledge of the energy trading sector bring vital additional skills to the Board as we take the Company to the next stage. As we celebrate International Women’s Day, I would like to reinforce our commitment to diversity on our board and again welcome our new CEO, Carmen, a seasoned technology executive and recipient of a Bronze Stevie Award for Most Innovative Woman of the Year in Technology – one of the world’s top honors for female executives.”

ABOUT BRADY

Brady is a provider of trading and risk management software for the commodity and energy markets. We provide complete solutions supporting the entire trading operation from capture of financial and physical trading, through risk management, handling of physical operations, back office financials and treasury settlement, for energy, refined and unrefined metals, soft commodities and agriculturals. Brady has 200 customers worldwide, including some of the largest global financial institutions and corporations

Brady extends its partnership with BayWa r.e. Clean Energy Sourcing GmbH

Brady extends its partnership with BayWa r.e. Clean Energy Sourcing GmbH (BayWa r.e. CLENS), through the implementation of Brady Credit Risk

Brady, the largest European-headquartered provider of trading and risk management software to the global commodity and energy markets, today announced that BayWa r.e. Clean Energy Sourcing, a leading direct marketer and supplier of green energy in Germany, has chosen to implement the latest version of Brady Credit Risk in their cloud hosted environment.

BayWa r.e. CLENS are one of the leading direct marketers and suppliers of green energy in Germany. As they continue their rapid growth, BayWa r.e. CLENS made the decision to implement a streamlined credit risk solution that could accommodate their business growth but also offers best of breed functionality for counterparty exposures, margining, credit data management, credit workflow and reporting needs.

BayWa r.e. CLENS are current users of Brady’s ETRM and power scheduling solutions and as such Brady was able to fast-track the credit risk implementation using its industry leading integration tools that automatically pulls in all the required credit data directly from Brady ETRM, significantly reducing the implementation delivery timeline.

Ian Jenks, Executive Chairman of Brady, said ”We are thrilled that once again one of our clients has put their faith in us to deliver additional vital solutions for their business needs. As a long-term partner of BayWa r.e. CLENS we hope to continue to support them for many more years to come”.

“We have been successfully using Brady’s software solutions for several years,” said Jens Eberlein, Managing Director of BayWa r.e. CLENS, “and we look forward to leveraging another Brady software solution as we continue to professionalise our credit and risk controlling efforts to more efficiently and risk-adequately monitor and control our operations’ counterparty risks.”

Brady’s credit risk management solution will provide BayWa r.e. CLENS with:

  • Cloud-hosted solution
  • Management of exposures, margining, credit static data, credit workflow and reporting
  • Seamless integration with Brady ETRM
  • Implementation based on the Brady best practice project management and implementation methodology
  • A scalable solution that can meet the current needs of the smallest energy and commodity trading firms and producers through to the largest that operate on a global basis.

ABOUT BRADY

Brady is a provider of trading and risk management software for the commodity and energy markets. We provide complete solutions supporting the entire trading operation from capture of financial and physical trading, through risk management, handling of physical operations, back office financials and treasury settlement, for energy, refined and unrefined metals, soft commodities and agriculturals. Brady has 200 customers worldwide, including some of the largest global financial institutions and corporations

About BayWa r.e. Clean Energy Sourcing GmbH

For many years, BayWa r.e. Clean Energy Sourcing GmbH has been one of the leading direct marketers and suppliers of green energy in Germany. As a wholly owned subsidiary of the BayWa r.e. group, the company offers a wide range of energy-related services and products, starting with the marketing of decentralised renewable energy and CHP plants, and including extensive flexibility management and the supply to industrial and commercial customers with green energy.

Brady appoints new CEO

Brady plc

(“Brady”, the “Company” or the “Group”)

Appointment of CEO

and

Directorate Changes

Brady plc, a leading global provider of trading, risk management and settlement solutions to the commodity and energy markets, is pleased to announce the following changes to its Board of Directors (the “Board”).

New Chief Executive

After an extensive selection process involving numerous high-quality candidates, the Company is pleased to confirm the appointment of Carmen Carey as its new Chief Executive, with effect from 18 February 2019. Carmen initially joined the Board as a Non-Executive Director in March 2017. Carmen is an IT industry veteran whose career to date encompasses leadership roles as an executive in fast-growing global VC-backed and publicly traded technology companies.


She was most recently the COO of artificial intelligence company Unbabel. Prior to Unbabel, Carmen was CEO of Apica, CEO of Big Data Partnership, COO of MetaPack, CEO of ControlCircle, COO of MessageLabs and VP of Global Services at BroadVision. As CEO, she successfully led the exit of Big Data Partnership and ControlCircle to Teradata and Alternative Networks, respectively.  She was also a Non-Executive Director for Arts Alliance Media through its acquisition by Luxin-Rio. In 2017, Carmen was recognised with the Bronze Stevie Award for Most Innovative Woman of the Year in Technology – one of the world’s top honours for female executives.

Non-Executive Chairman and Non-Executive Directors (“NEDs”)

As part of this process, Ian Jenks will step back from his role as Executive Chairman to being Non-Executive Chairman with effect from 1 April 2019.  Ian became Executive Chairman in September 2016, initially as a short-term measure, and we are indebted to him for his longer than anticipated tenure. He has steered Brady through a time of huge transition and we look forward to his on-going role as Non-Executive Chairman.

The Company is in the process of recruiting additional NEDs and looks forward to making further announcements to this regard soon.

Ian Jenks, Executive Chairman of Brady, commented: We are delighted to have secured such a high-quality Chief Executive as Carmen. It is a testament to Brady’s strength, position and products that Carmen wanted to make the transition from Non-Executive Director to Chief Executive.  As a business we have a fabulous opportunity in front of us. We have the staff, the clients and the drive to take the Company to the next stage and with Carmen leading the team we are in great shape to take advantage of that.”

Carmen Carey, commented: “ I am thrilled to become Brady’s CEO. The opportunities available to the Company are substantial and I am confident that my experience gained across a wide range of technology businesses will help Brady realise its full potential.”

For further information, please contact:

Brady plc
Ian Jenks, Executive Chairman
Martin Thorneycroft, Finance Director
Telephone: +44(0)1223 479479
 
Cenkos Securities plc – NOMAD and Broker
Mark Connelly – Corporate Finance  
Telephone: +44 (0)20 7397 8900
Newgate Communications
Bob Huxford/ Ian Silvera
Telephone: +44 (0)20 7653 9848  

Disclosures required by Schedule 2(g) of the AIM Rules for Companies

Further to the disclosures made on Ian Jenks’ appointment on 6 June 2016, the Company also confirms that Mr Jenks is a Director of Zeetta Networks Limited, Ian Jenks Limited and is a former director of Aldwych 2011 Limited, Skrill Limited and Paysafe Financial Services Limited.  The Company makes the following corrections to previously disclosed Directorships:

Previous Disclosure Correction
Seren Phonics Limited Seren Photonics Limited
Econic Limited Econic Technologies Ltd
Intune Network Limited Intune Networks Belfast Limited

There are no additional Schedule 2(g) disclosures required for Carmen Carey.

About Brady

Brady plc (BRY.L) is the largest European‐headquartered provider of trading and risk management software to the global commodity and energy markets. 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 energy, refined and unrefined, soft commodities and agriculturals.

Brady has 30 years’ expertise in the commodity markets and its clients include many of the world’s largest financial institutions, trading companies, miners, refiners and producers, tier one banks, a large number of London Metal Exchange (LME) Category 1 and 2 clearing members and many leading European energy generators, traders and consumers.

Brady are in the top 10 once again!!!

In July 2018, Brady was recognised as the energy trading and risk management software market leader (aka the ETRM Behemoth) in the Energy CIO Insights, ETRM special.

This month the editors from CIO Advisors interviewed our Chief Product Officer, Senior Software Engineer and Head of Credit Risk for inclusion in the leader board of ‘TOP 10 Enterprise Risk Management Companies of 2018’.

“Risk management is often overlooked, despite being a vital component of the energy and commodity trading industry,” begins Libby Koehn, Chief Product Officer at Brady PLC. By specializing in mitigating such challenges Brady PLC has taken pole position while perfecting a precise concoction of trading operations, governance, and risk management controls through its suite of trading and risk management software solutions.

Brady’s proficiency in the energy and commodities risk management (E/CTRM) space is built on a suite of products that help customers to manage their commercial decision-making and market execution processes, ensuring more complete management accountability for decisions so that they are made in accordance with a firm’s risk policies.

Brady Accountability Compliance (BAC)

“One of the vital factors that drive an organization’s success is the reputation it builds over time through trades and engagements. However, such reputations are easily tarnished when an organization fails to meet its stakeholder or customer obligations.  Most reputational risks stem from a lack of corporate governance. At Brady, we’ve addressed the topic of reputational risk by expanding our product portfolio to include a new solution that manages reputational risks,” explains Libby. The company’s products enable decision makers to automate their operational workflows, assess risks associated with multiple organizational layers, streamline decision support and proactively manage market trade execution tasks and liquidity, while additionally supporting the needs of energy and commodity companies by helping them meet new, more robust regulatory and governance control requirements.

Brady CTRM / ETRM

Aleksandar (Sasha) Cvetkovic, Senior Software Engineering Manager at Brady, explains that trading companies have a specific need and a strong demand for solutions that help them to understand and model physical and financial commodity instruments. These solutions ensure that risks are accurately assessed, so that customers have the data they need to decide on suitable actions.

Brady’s competency in delivering a configurable engine that models risk measurements and profit and loss is essential. Furthermore, Brady excels in employing a unified engine that automates trading of energy and commodities operations. While machine learning-driven automation eliminates extensive labor requirements, minor hindrances in automation can cause catastrophic problems, affecting the entire workflow of a trading firm. Brady averts such setbacks by placing risk management at the center of its solution portfolio to obtain a bird’s-eye view of an entire business.

Brady Credit Risk (BCR)

BCR is a specialized credit risk solution for the Energy and Commodity markets, that can be delivered on-premise or hosted in the cloud.  Brady Credit Risk Product Owner, Ian Tobin, says “Our credit risk solution has always had best of breed functionality, but our primary focus has been to improve the user experience and pro-actively deliver alerts and the relevant credit risk information that each user specifically wishes to see.  This enables users to react to high risk events that require immediate action and to better optimize their daily workflows.”

BCR measures counterparty exposure, detailing a hierarchical view of Mark to Market (MTM) and settlement risks within legal and guarantee hierarchies. Organizations can view Potential Future Exposures (PFE) and execute pre-deal checks using a variety of methodologies, such as simple add-on’s, parametric models or using Brady’s Monte Carlo simulation engine. BCR also allows Over the Counter (OTC) margining through credit support annexes and associated netting structures, automating user’s workflow at critical stages of the margining process.

One of the many distinguishing features of BCR is that it offers configurable models facilitating internal scoring of counterparties based on a set of quantitative and qualitative questions. A counterparty’s financial information can also be imported electronically or entered manually. A separate reporting layer allows clients to build their own reports or to use the standard BCR reporting suite that is linked to Power BI and Tableau for improved data visualization.

Way forward

In the near future, Brady plans to incorporate distributed ledger technology and machine learning capabilities to enhance its capabilities in the E/CTRM landscape still further. “We are aware of the potential risks prevailing in this sector, and they are addressed through our solution sets natively. We not only implement comprehensive risk management strategies in our products but we also help our customers to manage and address the risks connected to the market changes in a proactive manner,” concludes Koehn.

Read the full article below:

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Please click here for the full magazine.

 

Brady keeps its number 1 position in the metals trading industry

Brady is proud to announce that it has retained its number one position in the metals space as this year’s CTRM vendor perceptions study carried out by Comtech Advisory Board. The report confirms ‘Brady PLC was noted as the market leader by 56% of the respondents, well ahead of runner up ION Openlink with about 15%’.

Comtech Advisory Board’s MD, Gary Vasey, further commented:

In the 2018 Vendor Pereption Study, a backward looking view of brand perception and buying criteria in the CTRM software category, Brady PLC has retained a strong level of brand awareness generally while extending its perceived market leadership in metals. It also shows up in a number of other categories as a perceived leader including Soft Commodities. Overall, Brady has maintained strong awareness in the space.

The 2018 Commodity Technology Advisory’s vendor perception study was conducted to establish end-user and market influencer perceptions of the CTRM vendors to determine market leadership perceptions as well as buying criteria, demand levels, and brand awareness of the different vendors. The research comprised of a comprehensive set of questions that end users and others (including industry consultants but excluding vendor personnel) were invited to answer as an internet survey. The survey was open for responses between May 21st and September 30th, 2018 and collected some 195 responses.

Please click here for the full report

Brady announces new product to drive accountability and transparency across the global commodity and energy markets

New Cloud-Based Software Platform Automates the Management Processes Required to Ensure Comprehensive Regulatory Compliance for the FCA Senior Managers and Certification Regime

London, 18th September 2018: Brady plc (BRY.L), a leading global provider of trading, risk management and settlement solutions to the energy and commodities sectors, today launched a new cloud-based compliance software solution.  Brady Accountability Compliance will support global commodity and energy organisations in managing risk across their organisations by automating the processes required to ensure compliance with the requirements of the FCA Senior Managers Regime, Certification Regime and Conduct Rules (SM&CR).

Libby Koehn, Chief Product Officer of Brady, commented: “The demands of the SM&CR requires companies to provide even more transparency across their organisations on their individual accountabilities and responsibilities, including providing documented evidence that they have taken reasonable steps to meet their regulatory obligations. This is placing mounting pressure on senior managers who currently struggle to meet the regulatory requirements via mostly manual and disjointed solutions.  Without the correct tools to manage the reporting requirements senior managers could end up exposing themselves and their company to risks from non-compliance. Brady plc has partnered with Trailight, a pioneering expert in solving these complex compliance documentations and reporting challenges, and we’re excited to be working with them to offer a solution specifically tailored to the needs of the energy and commodity sector.”

Brady Accountability Compliance enables organisations to:

Manage the key aspects of the SM&CR:

  • Gain a central repository for all SM&CR records
  • Document and manage Statements of Responsibilities (SoR)
  • Generate Management Responsibilities Map (MRM)
  • Set up and manage handover processes for changes in roles and responsibilities
  • Automate approvals and sign-off management process
  • Provide a full audit of all changes, decisions and approvals
  • Achieve full transparency on firm and individual accountability for regime compliance, decision making and reasonable steps

Provide full control over necessary compliance checks to certify that key staff members are “fit and proper” to perform their role:

  • Identify roles to significant harm functions within the group and its entities
  • Map those roles to people within the organisation
  • Assess fitness and propriety
  • Create, sign off and issue of appropriate certificates
  • Manage ongoing compliance due to annual regime and change management requirements

Understand and comply with Tier 1 conduct rules:

  • Identification of the staff covered by the Conduct Rules
  • Record and manage conduct rules and training
  • Manage breach and breach reporting to the regulator

Brady’s Accountability Compliance software can be implemented either as either a Cloud hosted or on-premise solution in a very short space of time, ensuring that frameworks, data, records and appropriate outcomes are quickly in place.  This allows senior managers and boards to deliver on their responsibilities and provide evidence that they have taken reasonable steps to comply with regulation, minimise consumer detriment and achieve positive outcomes for their firms.

David McNair Scott, CEO, Trailight, concluded: “Combining our regulatory and technology expertise with Brady’s deep trading domain understanding and technology expertise is a game changer for the energy and commodities sector.  Accountability, culture and competence is the focus of the global regulatory bodies and this move, connected to Brady’s expertise and market access will allow us to serve the wider community.” 

About Brady plc

Brady plc (BRY.L) is the largest European-headquartered provider of trading and risk management software to the global commodity and energy markets. 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 energy, refined and unrefined metals, scrap and secondary metals, soft commodities and agricultural products.

Brady has 30 years’ expertise in the commodity markets with over 400 customers worldwide, who depend on Brady’s software solutions to deliver vital business transactions across their global operations. Brady clients include many of the world’s largest financial institutions, trading companies, miners, refiners, scrap processors, recyclers and producers, tier one banks, and a large number of London Metal Exchange (LME) Category 1 and 2 clearing members and many leading European energy generators, traders and consumers.

For further information, visit: www.bradyplc.com

Brady plc: Twitter / LinkedIn

Brady Media Contact:

Cosmin Balan

AxiCom

E: Cosmin.balan@axicom.com

T: +44 207 559 5617

Brady sees full-year performance in line with expectations as H1 losses narrow

StockMarketWire.com – Brady said Monday it expected full-year performance would be in line with market expectations as first-half losses narrowed Monday despite roughly unchanged revenues.

For the six months to 30 June, the company reported a pre-tax loss of £2.3m compared with a loss of £3.7m a year earlier and revenue was roughly flat at £10.5m.

Adjusted earnings (Ebitda) for the first half of 2018 was a £0.4m loss compared to a loss of £1.2m for the first half of 2017.

Revenues were weighed down by reduced growth from services including development to £1.63m from £2.2m the previous year, while software licenses jumped to £1.10m from £0.58m. The company said full-year 2018 results expected would be in line with market expectations.

‘We are confident that the business will scale efficiently and deliver significant improvements in profitability and cash generation in the remainder of 2018 and beyond. With 95% visibility of our 2018 revenues and a cost base that is now aligned with our strategic goals, we expect our full year results to be in line with market expectations,’ said Ian Jenks, Executive Chairman.

At 9:02am: [LON:BRY] Brady PLC share price was 0p at 66.25p

Story provided by StockMarketWire.com

Brady slashes deficit as restructuring benefits come through

“This has put us on a strong footing reflected in the fact that we have also secured new contract wins and retained all business that came up for renewal during the period.”

Commodity trading software group Brady Plc (LON:BRY) cut its losses as the benefits of restructuring measures taken last year started to come through.

“We are doing exactly what we said we would, including an investment in new products, the removal of costs, creating long-term solutions with the customer at the centre and a continual transition away from the group’s legacy contract model,” said Ian Jenks, executive chairman.

READ: Brady sets eyes on transformation as it completes restructuring

“This has put us on a strong footing reflected in the fact that we have also secured new contract wins and retained all business that came up for renewal during the period.”

Turnover for the half year to June was flat at £10.5mln, while underlying losses dropped to £424,000 from £1.24mln.  Interim losses were £2.04mln (£3.52mln). Four new contracts were renewed in the first half worth £2.8mln, with two additions worth £0.6mln. Gross margins improved slightly to 55% while recurring revenues held at 74% of the total.

“With 95% visibility of our 2018 revenues and a cost base that is now aligned with our strategic goals, we expect our full year results to be in line with market expectations,” added Jenks.