Brady posts interim results

INTERIM RESULTS

For the six months to 30 June 2017

Brady, the leading global provider of trading, risk management and settlement solutions to the energy, commodities and recycling sectors, is pleased to announce its interim results for the six months to 30 June 2017.

Operational Highlights

The business continues its transition from a one-off licence revenue model to a recurring revenue model;

  • Four new licence deals signed on a recurring revenue basis in H1;
  •  Two new energy licence deals signed following strategic decision to build connectivity to the important renewables sector via the Irish Single Integrated Market (“I-SEM”);
  • Recurring revenue represented 68% of total sales in H1 (H1 2016: 60%).

Outlook

  • Full year results expected to be in line with market expectations;
  • Visibility over 93% of expected full year revenue; and
  • Cost base in line with management’s expectations to the half year.

Financial Summary (Unaudited)

(Unaudited)

(Audited)

6 months to 30 June 2017

6 months to 30 June 2016

12 months to 31 Dec 2016

£’000

£’000

£’000

Revenue

13,182

14,758

30,269

Recurring revenue

9,027

8,914

18,906

EBITDA before exceptional items

(880)

2,043

4,527

Operating result before exceptional items

(2,902)

123

533

Dividend paid (pence per share)

nil

nil

nil

Adjusted earnings per share (pence) 1

(2.49)

1.05

2.40

Basic earnings per share (pence)

(3.97)

(0.32)

(2.23)

Cash

5,038

6,402

7,343

Source: https://www.ctrmcenter.com/news/vendor-news/brady-posts-interim-results/

Brady posts interim results