Brady riding high

Brady, a software provider to the commodities sector, says acquisitions and the buoyancy of its sector boosted earnings in 2011.

Total sales revenue jumped 72% over 2010 to £19.2m, with adjusted operating profits gaining 56% to hit £2.36m. The dividend was increased 8% to 1.4p per share while earnings per share increased 111% to 3.57 pence.

During 2011 Brady signed 14 "significant" licence contracts including its first deals in Hong Kong, Singapore and North Africa.

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Since the end of 2011 the company has completed acquisitions of Navita and Syseca.

Paul Fullagar, the group's Chairman, said:

"The group's acquisition of Brady Energy in December 2010 has continued to exceed expectations and we are delighted with the shareholder support we received for the recent £18m share placing which allowed us to complete the transformational acquisition of Navita in March 2012."

Shares in Brady had risen 3.9% by 08:59. The group's stock has gained 19% in the last 12 months.

BS