TMCNet:  Brady's new contracts disappoint

[March 18, 2014]

Brady's new contracts disappoint

(City A.M. (UK) Via Acquire Media NewsEdge) Brady, a software maker for the commodities sector, has reported earnings before exceptional costs falling nearly 40 per cent to £3.5m with revenue rising four per cent to £29.3m. Chief executive Paul Fullagar said that its 16 new contracts in 2013, including two record contracts, had taken longer to negotiate and had impacted performance. "While we did not meet our expectations for the year, there is strong underlying momentum in the business, strong recurring revenues, record licence backlog going into 2014 and beyond," said Fullagar. Shares fell 2.9 per cent to 67p.

(c) 2014 City A.M.

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