||EPS - Basic
||Market Cap (m)
|Software & Computer Services
Brady Plc Share Discussion Threads
Showing 1626 to 1646 of 1650 messages
|"Interim results were well telegraphed by the July trading update and there is little to surprise in these figures bar encouraging success in reducing costs (cash costs in H1 were reduced by £1.6m). Brady has failed to deliver on its potential in recent years and management’s intention to refocus the business model gives us encouragement that renewed vigour is being injected into the business. While underlying market conditions present a challenge to trading, we believe they also afford new management the opportunity to take the action necessary to reposition this business for growth. We advise investors to watch developments closely going forward."
Update from N+1 Singer on Research Tree|
|Steady H1, but lots to fix from management|
|This is P&D!
The new Chairman understands: a fish rots from the head down! Good that the CEO will soon "pursue other opportunities".|
|I have never known Q4 not to be a make-or-break quarter.|
|Hi dose anyone use the +500 for trading.
If so what are the charges regarding buy or sell commissions and other associated costs.|
|Is anyone going to the AGM this year?? I'd be interested in feedback.|
|“Customers rely on Brady to help manage the current volatile market conditions”
I have no idea who Brady rely upon.|
|"The shares look attractive" says SCSW in latest issue|
|I don't hold BRY, never have but I do subscribe to Paul's Quality Small Cap Report email which I find invaluable as a means of keeping up with stocks I might otherwise overlook.
As for BRY itself it strikes me its all about building a big company as opposed to shareholder value. I'm put off by the ratio of Cash Flow ps relative to CAPEX ps + R&D ps. When I look for quality growth companies - RB., ABC, GRG, CWK, DOM, JD., JDG etc one of the criteria they all have is Cash Flow ps at multiples of Capex ps + R&D ps. Its one of the scans I look for to back up 'n' Consecutive Years of Turnover Growth but in BRY's case the numbers are not historically very good. I'm prepared to suffer a one off fall in turnover if everything else stacks up.
I can probably best illustrate this by comparing ROR & BRY, both who have suffered from the downturn in the resource sector. ROR still managed to produce 4x Cash Flow ps relative to Capex + R&D ps, whereas for BRY the ratio was <1 at 0.6x Cash Flow ps. Because ROR has been positive for over ten years with its CF:Capex+R&D I'm far more likely to give them the benefit of doubt.
As always the numbers are only as good as the data provider & I tend to use Sharescope, Stock_o_pedia and Sharelockholmes as a short cut rather than wade through endless annual reports.|
|Things which I thought:
It's easy to boost your recurring earnings by dropping the ball with the one-off licence model and thereby artificially raising the relative values.
Good point about the licences confounding the EPS target 6p >> actual 1p.
Gavin has previously suggested that the market turmoil is irrelevant for Brady because they do Risk Management and then when the money for new metals Risk Management systems dries up they suddenly say that this isn't predictable or exploitable.
I'd have been interested to know how the management team are compensated given that their bonuses should have been linked to share prices and contract sales. He's stripped out the dividend to protect the bottom line (and to be fair, Fullager, Lavelle, and Thorneycroft as well as the rest of us will feel that to differing extents) but if they don't also curtail bonuses, discretionary options and other back slapping there is no reflection of the bad results. I would not expect any new Bentleys parked at Brady Towers.|
|What did people think of Brady CEO's answers to my questions in latest interview last week - link above in post 1384. Would be good to get some feedback. Not much point in me doing interviews if there's no feedback!
|Anecdote: I've seen "offshore development centres" in the past and they live or die based upon the initial spec, how close the dev team is to the product managers and how on the ball the parent company is regarding deviation from spec / slipping from timeframe / mission creep of the development etc.
If Brady can do it, they will be performing better than I expect. On the plus side, this could bring modularity and code-reuse by the different teams and that would only be a good thing (30 might be outrageously optimistic).|
|Here's a FY results presentation with Gavin Lavelle, CEO
He talks through 2015 FY results, and explains the challenges throughout the year.
In spite of the difficult commodities market, and the reduction in spending by customers Lavelle puts forward a confident view of where he sees Brady positioned.
Costs have been cut by £2m and the offshore development centre will provide further savings.
56% of revenue is now generated by recurring income.
Lavelle believes contracts have been delayed, not cancelled. And cites they are still growing market share.
Further, there maybe acquisition opportunities in the software market, due to the challenging market, that others with a less robust balance sheet may not weather so well.
Fundamentally he sees them de-risked, moving away from licensed sales, lowering costs; and a low leveraged play of the commodity market.|
|I don't value your comment, Gargoyle2, but I'm looking to lose enough brain cells or be drunk enough to start rating it.|
|I recall there being questions asked as to why the directors weren't buying after the December profit warning. Lavelle brushed that off in at least one interview. He's a smooth talker, that's for sure. Let's see if they are going to stick their necks out now. (I no longer hold, but am looking for a decent entry point.)|
|Just cannot trust this company to deliver.|
|Video interview with Gavin Lavelle
Gavin Lavelle, chief executive of Brady Plc (LON:BRY) says he is “delighted” that the firm is still winning contracts despite the downturn in the commodity market.
The firm reported a loss of £1.4mln for the year to December 2015, but
Lavelle says that the firm has taken “corrective action” in the fourth quarter, taking more than £2mln in costs out of the business.
“We will see the benefit of that coming through in the first half of this year, and whilst it’s difficult to call the turn in the commodity markets, our cost base is lower we are being prudent and we are de-risking the business,” he adds, noting that he expects the business to be cash generative in the current financial year.|
|The company warned in November 2015 that, despite the reporting of a healthy sales pipeline in the H1 results statement released in September, a material deterioration in underlying market conditions in the previous month had lengthened buying cycles for existing customers and new prospects. Hence a number of pipeline opportunities would not be converted in the remainder of the financial year as expected, and this would result in revenues and EBITDA being materially below market expectations.