- Financial services software provider Brady reported narrower annual losses amid cost cutting and a modest uptick in revenues.

For 2018, pre-tax losses narrowed to £0.87m from £1.14m a year earlier and revenue increase 4% to £23.16m.

Revenue was driven by a focus on servicing our existing client base and achieving revenue recognition milestones on several long-term implementations, the company said.

Cash costs were reduced by £1.1m and adjusted earnings (EBITDA) swung to a positive £2.6m from a loss of £0.3m reported last year.

'Implementation of the plan set out in the last two annual reports remains on track as we leverage the foundations we have established to deliver high quality customer relationships and growth in line with commitments made to our employees, customers and shareholders, the company said.

At 8:33am: [LON:BRY] Brady PLC share price was +0.5p at 57p

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