Brady riding high

12th Mar 2012 08:47

Brady, a software provider to the commodities sector, says acquisitions and the buoyancy of its sector boosted earnings in 2011.Total sales revenue jumped 72% over 2010 to £19.2m, with adjusted operating profits gaining 56% to hit £2.36m. The dividend was increased 8% to 1.4p per share while earnings per share increased 111% to 3.57 pence.During 2011 Brady signed 14 "significant" licence contracts including its first deals in Hong Kong, Singapore and North Africa.Since the end of 2011 the company has completed acquisitions of Navita and Syseca.Paul Fullagar, the group's Chairman, said: "The group's acquisition of Brady Energy in December 2010 has continued to exceed expectations and we are delighted with the shareholder support we received for the recent £18m share placing which allowed us to complete the transformational acquisition of Navita in March 2012."Shares in Brady had risen 3.9% by 08:59. The group's stock has gained 19% in the last 12 months.BS