19th Jul 2016 08:28
LONDON (Alliance News) - Brady PLC on Tuesday said trading in the first half of 2016 was in line with its expectations and said it has got a marginal benefit from the post-Brexit weakness in sterling.
Brady, which makes software for the energy, commodity and recycling sectors, said revenue in the half to the end of June rose 4.0% year-on-year and said it has returned to profit thanks to cost-cutting efforts.
The firm said it signed nine new contracts in the half, seven of which were secured in the Americas.
The fall in sterling since the European Union referendum vote in the UK has been a marginal positive for the company, as its foreign currency-denominated revenue exceeds foreign currency-denominated costs.
Brady shares were up 0.9% to 66.60 pence Tuesday.
By Sam Unsted; [email protected]; @SamUAtAlliance
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