19th Jan 2015 08:06
LONDON (Alliance News) - Brady PLC Monday said its 2014 results will be in line with market expectations, after recognising "record" licence revenue, while its cash position at the end of the year will be significantly ahead of market hopes.
In a short trading statement, the company said it had cash of GBP9.5 million as of December 31.
"I am delighted at the earnings growth across the group. Cash generation is also strong, underpinning an already robust balance sheet and providing healthy dividend cover," Chief Executive Gavin Lavelle said.
The company expects to report its full 2014 results in mid-March. It is expected to report a pretax profit of GBP5.0 million according to a consensus of three analysts on Morningstar, which would be up from the company's pretax, pre-items profit of GBP573,000 in 2013.
Brady shares were up 0.8% at 81.10 pence early Monday.
By Steve McGrath; [email protected]; @stevemcgrath1
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