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.
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