30 April 2012 – AGM statement

The integration of Navita and Syseca is now nearing completion. These two acquisitions are now operating within Brady’s existing energy business under a single management team, with a clear growth strategy. Whilst trading conditions remain challenging, particularly in Europe, the company have continued to make progress. They have signed to significant licensing deals already this year and we would expect more to be forthcoming. As a niche player in a growing market place we retain our BUY recommendation.