Brady Posts First Half results

A few days ago, Brady PLC unveiled its first half performance for 2015 and I discussed these with Brady PLC CEO Gavin Lavelle. The company had revenues of 14.1m GBP (2014 H1 15.6m GBP) over the first half of the year and was negatively impacted by exchange rates over the period. On a consistent currency basis, recurring revenues rose and are now 55% of the revenue stream while license and service revenues were off a tad. Brady still managed to make a good profit on the period however, reporting 1.2m GBP and is sitting on a pile of cash with 6.2m GBP in cash at the end of June 2015. By comparison to many of its highly leveraged competitors, Brady is in a fairly luxurious position of no debt and significant cash reserves. Mr. Lavelle reported that Brady PLC had closed nine new license deals over the first half of the year including a couple of very significant and high profile deals in commodities and recycling markets. It also closed four energy deals and two migrations suggesting that the ETRM side of the business is firing on all cylinders. One of the deals was a first sale of its new … continue reading

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