Belgravium on track to reshape group as profits and sales soar

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HANDHELD computer firm Belgravium Technologies​ reported ​a significant increase in sales and profits in the first half of 2014.

The Bradford-based ​company said it is encouraged by enquiries and believes they can be converted into orders in the second half.

John Kembery, ​c​hairman of Belgravium, said: “The results for​​ the first half of 2014 have shown a significant​​ increase in sales and profits compared to the equivalent period last year.

“In addition, Belgravium is making good progress in its strategic objective to reshape the business as a complete solution provider.

“As in previous years, trading for the year as a whole is expected to be second half weighted. We are encouraged by the level of activity and enquiries and are confident that a good proportion can be converted to sales in the second half.”

​The firm said that​ 2014 started quietly, but a significant pick-up in trading in the second quarter enabled it to finish the half year with profits and earnings per share significantly better than the first half of 2013.

Group sales increased to £4​.​​6m compared ​with​ £4​.1m in the first half of 2013.

Operating profit was £215,000 compared ​with​ £38,000 in the prior year, which included £99,000 of exceptional costs, largely associated with the acquisition of Feedback Data which was completed ​last year.

​Analyst Eric Burns, at WH Ireland, said​: “Good progress has been made in Belgravium’s strategic repositioning towards becoming a total solution provider and, given the usual second half weighting, these first half numbers are supportive of our full year forecasts.

“The shares remain cheap,”​​​ he added.

The ​g​roup designs, installs and maintains software applications and solutions for the airline, rail, retail and logistics industries.