Brady plc provided earnings guidance for the full year to December 31, 2013. For the year, the company expects to report revenues of £29.3 million and adjusted EBITDA of approximately £3.6 million. This reflects the timing of revenue recognition for the recently signed contracts and the unfavourable currency movement of the Norwegian Krone in the last two months of the year.

Recurring revenues increased to 57% of sales and deferred revenue is £6.8 million (previous year £3.7 million), providing a strong platform for growth in 2014. Combined with the impact of the 2013 reo-organisation which produced annualized savings of approximately £2 million, the Group is now well positioned for 2014.