Brady plc AGM Statement (7619P)

TIDMBRY

RNS Number : 7619P

Brady plc

31 May 2018

31 May 2018

("Brady", the "Company" or the "Group")

Trading Statement

Brady plc (BRY.L), a global provider of trading, risk management and settlement solutions to the energy and commodities sectors is holding its AGM today.

At the AGM, Ian Jenks, Executive Chairman of Brady plc, will make the following statement:

"The Company has made substantial progress in the first four months of the year and, as a result, we are delighted to report that trading is in line with management's expectations. We have continued to invest in the core technology that we believe will drive the business forward in years to come and we are seeing the benefits of this investment.

We have recruited new people, considerably streamlined the organisation and we are now seeing the results of this across the business as we continue to move towards our goal of being a high quality, scalable software business.

A particular highlight of the year to date was in March 2018 when Ustekveikja Energi AS, a municipal owned Norwegian utility, selected Brady EDM to support its physical power market operations in the Nordics. In what was a competitive tender, we were able to demonstrate that our solution covered; data communications, market interfaces, short-term trading, core energy data and meter management, reconciliations and settlement, integration with their accounting system and that our EDM-WEB portal was best in class. We believe Ustekveikja Energi AS' selection of Brady EDM demonstrates the core strengths of our EDM software in its flexibility and ability to adapt to market changes.

In May 2018 we launched our new FAST START implementation offering for metals trading lifecycle management. This is a preconfigured cloud based solution which enables clients to trade immediately and significantly reduces the cost, time, upheaval and effort associated with a system's implementation and should re-enforce our position as class leader in metals trading.

I look forward to providing a further update in the Interim Results which will be released in September."

For further information please contact:

 
 Brady plc                                Telephone: [phone] 
  Ian Jenks, Executive Chairman 
  Martin Thorneycroft, Finance Director 
  Cenkos Securities plc                    Telephone: [phone] 
   Camilla Hume/ Mark Connelly 
 Redleaf Communications                   Telephone: [phone] 
  Charlie Geller / Ian Silvera 
 

About Brady

Brady plc (BRY.L) is the largest European-headquartered provider of trading and risk management software to the global commodity and energy markets. Brady combines fully integrated and complete solutions supporting the entire commodity trading operation, from capture of financial and physical trading, through risk management, handling of physical operations, back office financials and treasury settlement, for energy, refined and unrefined, soft commodities and agriculturals.

Brady has 30 years' expertise in the commodity markets with some 300 customers worldwide, who depend on Brady's software solutions to deliver vital business transactions across their global operations. Brady clients include many of the world's largest financial institutions, trading companies, miners, refiners and producers, tier one banks and a large number of London Metal Exchange (LME) Category 1 and 2 clearing members and many leading European energy generators, traders and consumers.

For further information visit: www.bradyplc.com

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [e-mail] or visit www.rns.com.

END

AGMFKKDKBBKBDPN

(END) Dow Jones Newswires

May 31, 2018 02:00 ET (06:00 GMT)