Belgravium looks for acquisitions as profits rise

Data capture company Belgravium Technologies believes the time is right to look for acquisitions after announcing a rise in pre-tax profits.

The Bradford-based company had put expansion plans on hold due to a lack of access to cash and low market capitalisation.

In a statement, the company said: “Now that the group will soon be ungeared the time is right to start examining suitable acquisition prospects.

Sign up to our Business newsletter

Sign up to our Business newsletter

“We are already examining some opportunities.”

Belgravium said pre-tax profit rose to £321,000 for the six months to the end of June, up from £26,000 in the same period last year, while turnover rose from £3.66m to £4.77m.

Chairman John Kembery said: “Belgravium has delivered a first half performance in line with expectations and orders received to date mean that the group will have a second half which is constrained only by supply chain and production capabilities.”