Stick or Twist

In the weeks prior to the holidays, Brady PLC issued an advisory to the market as a public company, regarding revenue expectations. I had a call with CEO, Gavin Lavelle later that day to find out more about what this meant. This took the form of a Q&A session as follows. Commodity Technology Advisory: Recently Brady PLC issued an advisory to the market regarding revenue expectations and a more difficult market, could you comment on how you see the market right now? Gavin Lavelle: Generally, the market is split between producers, traders & brokers and industrial companies. With many commodity and energy prices at multi year lows, this is putting a great deal of pressure on production companies to cut costs and in some cases, close non-profit making asset lines and deleverage their balance sheets. Trading companies and brokers generally enjoy volatile market conditions. This year, very sharp drops in power & gas, metal and softs prices have caught many traders off balance. Oil traders appear to have had a better time. Clearly lower input prices are better for industrial companies. ETRM/CTRM companies sign more contracts with producers and trading companies therefore, it has been a very challenging market for

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