Brady (LON:BRY) - Trading update is exceeded
Sep 17th 2012 - Edison Investment Research today published a report on Brady (BRY.L, LSE:BRY, LON:BRY) entitled "Trading Update Is Exceeded". In summary, the report says:
Brady has announced a solid set of interim results, with H1 revenue rising 37% to £12.1m (the July trading update said growth exceeded 30%) and adjusted EBITDA increasing 43% to £1.8m. The numbers reflect stronger than expected term licence revenues. 10 significant new licence deals have been announced in the year-to-date, compared with 14 for the whole of FY11 and we note that Q4 is typically the busiest quarter for new business. Nevertheless, we are maintaining our group revenue and profit forecasts, given the continuing uncertain economic backdrop in Europe.
Edison Investment Research is a leading international investment research company. It has won industry recognition, with awards both in the UK and internationally. The team of 95 includes over 60 analysts supported by a department of supervisory analysts, editors and assistants. Edison writes on more than 400 companies across every sector and works directly with corporates, fund managers, investment banks, brokers and other advisers. Edison’s research is read by institutional investors, alternative funds and wealth managers in more than 100 countries. Edison, founded in 2003, has offices in London, New York and Sydney and is authorised and regulated by the Financial Services Authority (www.fsa.gov.uk/register/firmBasicDetails.do?sid=181584). more »
