Brady Share Discussion Threads

[magnerita] 31/8/2007 15:55

would be a nice gesture to do that on the friday before you start! I think that may prove to be a good guess, cyberian.

[cyberian] 31/8/2007 15:53

Looks as though the new CEO who starts next Monday 3/9, may have bought into the shares...may see an RNS later...big rise out of the blue!!!

[muttleyrules] 31/8/2007 14:32

Couldn't agree more magnerita ... if the new chairman was happy to by £600k worth at 60p we should be following his lead at a 13% discount ...

[magnerita] 31/8/2007 12:02

has been very quiet here - Results are due on 11 Sept, but already pre-announced. Too early yet probably to expect sweeping statements from the new CEO on where the company will stand in 3-years time. Couple of contracts would be nice. Assuming £6.6m cash for 07, shares are trading at 3.8x EV/EBITDA.

Way too cheap.

[cocl2] 07/8/2007 23:45

I only hope that if there is any good news it is announced after the share price returns towards recent highs. It would be disappointing should they give good news in the middle of a broader dip in the market.

[cyberian] 06/8/2007 23:16

It's the Broker to BRY that appears to want the company to say no more than..."revenues and profits are in-line with company projections,IMHO. However, look for quite a change in early September with new Chairman and CEO fully on-board and working together with the recently appointed new FD. There is no way the Chairman would have subscribed to 1 million new shares at 60p if he did not see value and a more ambitious profile going forward. To me 53p to 55p could be quie a steal...dyor.

[joshalexander] 28/7/2007 08:36

The appontement of a new CEO is great news and there is scope here for long term growth. But still no new contract wins announced - and I think these would have been announced with the trading update IMO.

With the wider Market beginning to look very weak, I would not hold BRY at the moment. There will be better buying opportunities to come IMO.

[magnerita] 24/7/2007 11:56

indeed a difficult choice whether to wait or add now.

Looking forward to the interims: on the one hand, you can argue the company is going to say little with Lavelle not on board yet, thereby leaving room for him to put his own mark on the company. On the other hand, Brady could say at the interims it has continued to gain contracts in 1H - if they have indeed adopted a new style of communication.... That could still be taken positively.

[cyberian] 24/7/2007 11:30

Looks like a bit of forward momentum creeping-in following recent appointments...I like the buys today and maybe Lavelle has bought a few, if not expect him to do so. The new non ex. Chairman has shown his commitment and that was quite a slug he invested at 60p. Maybe have to wait until after holiday season and Lavelle joining officially in early September...the choice is whether to add now or wait? Danger is that the share price may now start to anticipate some positive changes from the newcomers to the Board.

[cyberian] 20/7/2007 13:57

Wouldn't be surprised to see the new CEO buy a few shares like the new Chairman to show further commitment. The composition of the Board looks more dynamic and Robert Brady moving over is quite commendable...will add more vigour all round in my opinion. Robert Brady is better suited to his new role as that is his key expertise....expect the company to be more sensitive to its shareholders and the share price in future.

[muttleyrules] 20/7/2007 09:05

I think this is good news - the company realises it will remain a small silicon-fen business unless it injects some more dynamism into the board ... that all these people have signed up to the company with the shares at 60pish - Chairman, CEO, FD - it says to me that they like the story and see the upside ... a lot of their remuneration has to come from options and stock price as BRY is not going pay big salaries ... as CTO Dr Brady can focus on product rather than sales ... clearly will take some time for the new trio to have an impact but we have a management team that has the potential to triple the size of the business ... IMHO Brady is moving from recovery story to straight forward growth story.

[unionhall] 20/7/2007 08:48

More likely recognizing his technology leadership role and the increasing scale of the company.

[cocl2] 20/7/2007 08:33

Maybe my comments from March were unfounded. Perhaps Dr Brady is slowly extracting himself from the company. I expect time will tell but in the meanwhile, I watch with interest.

[shanklin] 20/7/2007 07:53

New CEO



Cheers, Martin

[muttleyrules] 11/7/2007 09:24

Any views on the dividend and what they will do at the interims? Annual report suggests dividend will be minimal but could bring in 0.5p at interim and keep 1p for final. 1.5p for the full equals 2.4% yield.

[cyberian] 06/7/2007 15:39

unionhall...you are absolutely correct with Nomad/Broker comment. The guy from Oriel was at the AGM and it is he who is dumming-down on these new contract wins. I hate his interference or whatever you can politely call it...but he wants the company to be ultra conservative...say no more than "trading is in line with their expectations". So, I personally hope that the new Chairman will fire Oriel or over-rule them in staving us ordinary investors of regular updates. The Broker should not be allowed to restrict news/contracts as you are correct it gives a poor/uncertain view of what is really happening IMHO. Got that off my chest but again think that the New Chairman will set a better agenda going forward and so will continue to hold. And yes the second half is always more impressive with turnover and profits with some big contacts running through well into next year and beyond.

[unionhall] 06/7/2007 14:40

muttley - yes but in a guarded way.


They noted that they said in the recent RNS that they were still happy with full year guidance.

My impression for what its worth is that they are happy but not over the moon.

After the very successful 2006 perhaps things have gone a little flat.

My guess is that they hoped/still hope that the full year guidance will turn out to be conservative though because of the timing of revenue recognition they have very good visibility 6 mths ahead.


It may be that we will have to limit our expectations to 50% pa share price increases from now on - .


Clearly however the non-exec chairman did not splash out £600k on a whim and they surely must have a plan for the increasing cash in the coffers. Putting more on deposit does not sound like these guys' style. I expect some expansion plans to be announced later this year. (this is just my own opinion - no discussion with the company)

[muttleyrules] 06/7/2007 14:04

Unionhall ... so I presume they confirmed that they have been winning new contracts but are simply not announcing them any longer ... assuming this is the case it is good news ... however I think the company is at risk of investors drawing the wrong conclusion due to the absence of updates ... either way I agree that this is one to tuck away.

[unionhall] 06/7/2007 11:21

Spoke to the company this morning....

Their nomad has advised them since January there is no need to announce each contract win unless they were "significant" as this is now a standard part of the business.

The H1 / H2 revenue split is in the region of 40 / 60 due to customer budget timelines (2006 was 37/73 per my calculation).

I have these in a pension plan and I guess that's just where I will leave them to progress.

[muttleyrules] 05/7/2007 16:29

Update could have been more detailed ... i sense that with a new FD and new chairman these guys are keeping their powder dry ... i think there is every chance that they have been winning or are very to close winning new business but have chosen to keep quiet ... the share price is no longer suggesting the company is going bust and customers are probably relaxed so no need to announce new wins as they did 6-12 months ago. Annoying for us however as we are left guessing.

With the Chairman buying £600k at 60p this tells me there is excellent contract flow to come ... this is a small company that is not hard to do due diligence on with a decent product ... if we are light on newsflow and the share price drifts it's time to buy more.

[magnerita] 05/7/2007 10:04

Hmm i partly agree with that post, zipstuck. Half year sales on half year sales is pretty meaningless in my view given the limited visibility on revenue recognition from contracts won.
Fact is that no big contracts have been won since January and indeed if this continues this could lead to some share price volatility as the market starts to focus on 2008 prospects (2007 is already in the bag).

Brady did not need a working capital injection for more staff. This was more a way to give the new Chairman exposure. With GBP5.5m in the bank pre GBP0.6m chairman investment, you cannot argue Brady is short of cash.

I thought the trading update was short if anything and i would like to hear a comment again on the pipeline, something which i have missed since March.

[zipstuck] 04/7/2007 13:18

A bit disappointed that half time sales did not match the last half and no new contrcat wins were announced. 30% increase in h1 only brings revenues to half of FY 06. Hence the need for working capital injection to pay for more staff which have to deliver.

The recent incease was on small volume and the MM's do not want stock so the price will be volatile until the picture clears.

[felix99] 04/7/2007 12:53

it doesn;t but MM's happy to mark down on a few sells. They are looking for 25k on line so walking it down to fill orders imho.

[cocl2] 04/7/2007 12:22

And then the fickle hand of the stock market removes all the recent gains just after the 6 month trading statement. I didn't think that warranted a 6% drop in the price.

[muttleyrules] 02/7/2007 10:34

And further buys at 65 and 66 - 5000 and 10,000 respectively ... think cyberian may be right - something afoot ... this sort of buying on no news is unsual!