Profits more than treble at computer firm Belgravium

HANDHELD computer firm Belgravium Technologies said annual pre-tax profit more than trebled to £​475,000 ​last year.

The Bradford-based firm said a sustained sales effort brought good results in the fourth quarter of 2014 and annual revenues rose 12 per cent to £9.4m, boosted by the first full year contribution from Feedback Data.

Chairman John Kembery said: “2014 was a much improved year with increased revenue and profits. The group has made continued progress in extending its activities and offerings to cater for a wider and more discerning market. The board believes that further progress will be achieved in the current year.”

Hide Ad
Hide Ad

​The group said it won’t pay a final dividend for the year in order to conserve cash for a potential acquisition that has been identified.

Mr Kembury said negotiations are still at an early stage but the board anticipates that if the deal goes through, it will be financed from the company’s existing cash resources and bank debt.

If the acquisition does not proceed, the board will look at paying a dividend following the announcement of interim results in September.

​Analyst Eric Burns at WH Ireland said: “Belgravium’s full year results are bang in line this morning and show some very decent progress year on year.

Hide Ad
Hide Ad

“The statement also flags that as discussions are ongoing regarding a possible acquisition, the company has decided to pass its final dividend.

“With £700,000 in cash, the shares have clear value attractions trading on a current year P/E of just 7.3 times.”

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

A major part of its strategy is to provide solutions that create a long-term relationship with customers and repeat revenues.

Its mobile retailing software can now run on all three major operating platforms, Windows, Apple iOS and Android whereas previously it could only work with Windows.

Related topics: