Belgravium forced into profits warning

BELGRAVIUM Technologies issued a profits warning this morning as it admitted orders forecast for its second half are unlikely to materialise.

The Bradford-based mobile data specialist had told shareholders when it published its interim results that customers were proving more reluctant to commit to decisions.

But based on previous years it had expressed confidence that it would enjoy a much stronger second half.

However, this morning it was forced to admit that the orders it was relying on “are unlikely to materialise within this time frame.”

The company’s statement went on: “The group’s sales and profit levels for the year are likely to be below market expectation.

“On the positive side, the board is mindful that sales order prospects have not been lost, but delayed and that the group cash flow remains positive. 

“Whilst the cost base is being actively reviewed, it is anticipated that dividend payments to shareholders will be maintained at a similar level to last year.”