London, 5 September 2011

Brady Plc, the leading global supplier of trading and risk management solutions to the metals, energy and soft commodities markets, announces its interim results for the six months to 30 June 2011.

The main financial highlights of the first half of this year, compared to the same period last year include sales revenue up by 91% to £8.84 million, recurring revenues up by 168% to £4.78 million, EBITDA up 127% to £1.24 million and operating profit up 54% to £0.55 million, earnings per share up 20% to 1.37p per share and £10.4 million of free cash with no debt.

These impressive figures are underpinned by a number of milestones having been achieved during the period. Gavin Lavelle, CEO of Brady, said: “I am delighted with the successful acquisition and integration of Viz Risk Management (now Brady Energy) and the signing of nine significant new licence contracts (including the Group’s first soft commodity clients in North America, Asia and North Africa) and the ‘go-live’ of fifteen clients with Brady applications, bringing the total global client base to over 150. The recent achievements have now established Brady as the largest energy and commodity trading and risk company headquartered in Europe and the largest in metals globally (according to Commoditypoint).”

In addition, Brady has continued to enhance its product offering with solutions including a web-based application for real-time power portfolio optimisation and a collateral management solution to monitor counterparty risk and enhanced cross-asset risk modelling.

Paul Fullagar, Chairman of Brady, commented: “The Group has delivered strong growth in revenues and profitability in the first half of 2011 compared to 2010, in continuing challenging economic conditions. I am also pleased to report a swift and successful integration of the recent Brady Energy acquisition and am delighted to report that it is already performing above our initial expectations.” He added: “The increase in recurring revenues to 54% of total revenue helps give us more confidence in our outlook and reduces risk of volatility in earnings. The increased client base provides a solid and diversified foundation to our business. We continue to retain a very strong balance sheet position, dominated by cash, and with no debt. To complement the anticipated continued growth, the Group will continue to look for further opportunities to enhance its product and customer base through selective acquisitions.”

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