Brady Sees FY Trading In Line With Company Views

19th Jul 2010 07:27

LONDON (Dow Jones)--Brady PLC (BRY.LN), a supplier of trading, risk management and settlement solutions for commodities, said Monday it achieved growth in revenues of approximately 20% for the first six months of 2010 compared to the same period in 2009, and the group's trading continues to be in line with the board's expectations for the full year. MAIN FACTS: -This translated into a similar level of increase in operating profits, prior to the exceptional transaction costs relating to the acquisition of Viveo Switzerland SA. -The recent acquisition of Viveo Switzerland in March 2010 is trading ahead of initial expectations and has secured three substantial new license deals. -Acquisition has enabled cross-selling opportunities. -The Group has secured three further substantial new license deals as well as a number of further deals with existing clients. -General business conditions continue to remain challenging which makes the accurate forecasting of the timing, value and revenue recognition of new deals difficult. -Net cash at June 30 GBP3.2 million and no debt. -Group will continue to look for further opportunities to enhance its product and customer base through selective acquisitions. -Shares closed Friday at 65 pence. -By Tommy Stubbington, Dow Jones Newswires; 44-20-7842-9268; [email protected] (END) Dow Jones Newswires July 19, 2010 02:27 ET (06:27 GMT)