Brady PLC released its’ preliminary results on March 14th. 2016 saw the company increase revenues by 11% to 30.3m GBP (up 2% on a consistent currency basis), and grew recurring revenues by 24% while license revenues were down to 3.6m GBP to make a 500k GBP profit before exceptional items for the year and a 1.9m GBP after tax loss while adjusted EBITDA increased 85% to 4.5m GBP. 2016 was a difficult year for many vendors in the CTRM space in, one in which buyers focused on reorganizations, industry change, lower commodity prices, and rising costs. Against that backdrop, Brady did 10 new license deals; 4 in commodities and 6 in recycling.The company parted company its’ longtime CEO, Gavin Lavelle, in September 2016 and has since been reorganizing itself. A new board led by Executive Chairman, Ian Jenks, has begun by implementing a one company approach, reorganizing its sales functions into a Value Enablement team focused on delivering value to new customers, and an account Management team focused on existing customers. It has also reorganized its product development team with a focus on Group priorities rather than local priorities and created a product team responsible for all products. Having been
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