Brady bumped on sales slowdown but says on track for full year

20th Jul 2015 12:03

(ShareCast News) - Commodity and energy trading software specialist Brady said it remained on track to deliver full-year results in line with market expectations, despite a slowdown in first-half revenues.In the half-year to 30 June, Brady signed a major deal with one of the world's largest commodity companies to support their global refined meals and raw materials activities.It was also appointed by a recycling company to deploy the group's systems in Australasia as part of its strategic expansion.Brady said its energy business unit made further substantial progress by signing six new deals, including two migrations to Brady's go forward energy trading and risk management platform.The company signed a total of nine new contracts, compared with seven last year."Whilst we expect first-half revenues to be slightly lower than last year, it is this deal momentum and strong sales pipeline going into the second half which we expect will deliver the anticipated full year on year sales growth," Brady said.Chief executive officer, Gavin Lavelle, highlighted the signing of several "major deals" with world-leading clients across the group's three business units."The metals deal is with a top-class name, supporting their physical and derivatives trading activities in nine locations around the world. The recycling deal extends the company's use of our software in the Asia Pacific region, with the next step being to complete world-wide deployment across its European sites."At 11:11, shares were down 2.3% at 105p.