Brady on track for FY

19th Jul 2010 07:56

Financial software systems provider Brady said it achieved revenue growth of around 20% in the first six months of 2010 and is on track to meet full year company expectations.The firm, which supplies trading and settlement solutions for commodities, said general business conditions remain challenging, making an accurate forecasting of the timing, value and revenue recognition of new deals difficult. Brady however said it has secured three substantial new licence deals as well as a number of further deals with existing clients. CEO Gavin Lavelle said he was pleased with the group's progress in the half year to 30 June 2010. "Our acquisition and ongoing integration of Viveo Switzerland is performing well and the activity levels throughout the group are encouraging, despite continuing challenging markets. We have started the second half of the year with confidence," he said. The group had net cash at 30 June of £3.2m and no debt.