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26 July, 2006 - 06:56 By Staff Reporter

Brady expanding numbers

Brady plc, a supplier of software for global commodity traders, is expanding headcount at its Cambridge Science Park headquarters as it stretches to reach the capacity it may need as demand for the company’s products hots up.Brady plc, a supplier of software for global commodity traders, is expanding headcount at its Cambridge Science Park headquarters as it stretches to reach the capacity it may need as demand for the company’s products hots up.

Shares in the firm surged over nine per cent to 30 pence a share, up 2.5 pence, as it announced it had landed a contract to supply its flagship product, Trinity version 600, to one of the world’s largest recyclers of metal products and vertically integrated manufacturers of rolled metal products.

Neither contract details nor the name of the firm involved were disclosed, though it is listed on the New York Stock Exchange. The initial implementation is expected to commence in the third quarter 2006.

Brady also revealed it is in continuing discussions with a wide variety of organisations in the commodities marketplace, which may result in further sales of Trinity version 600 during the current fiscal year.

The firm announced that license revenues from further contract signatures in 2006 are likely to be recognised predominantly in 2007. The company’s cash balance at 30 June was approximately £3.9m with no debt.

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