Gross margin improved to 53% in the first half of 2019 from 51% in 2018 Proactive Investor – Brady PLC (LON:BRY), the trading and risk management solutions firm, said it has begun a new programme to deliver business efficiencies. The company warned last month that a pipeline of revenue from new customers would not materialise during the year as had been previously forecast and told shareholders today that the inability to get many potential contract wins over the line and the loss of some existing customers to competitors had prompted the company to take a long hard look at its business practices. The review has triggered a programme of work “designed to bring a fresh and objective perspective of our current state and inform a plan to enable Brady to demonstrate our leadership in the E/CTRM [energy/commodity trade risk management software] market”, the company said. Results for the first half of the year saw revenue ease to £9.55mln from £10.54mln the year before, while recurring revenue remained steady at £7.79mln (2018:£7.80mln). As indicated last month, full-year revenues are expected to be around £19mln. Adjusted underlying earnings (EBITDA) after exceptional items widened to £1.32mln from £423,000 the previous year. The loss before tax… continue reading
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Source: CTRM Center