"Very good year" for Belgravium

MOBILE computing specialist Belgravium Technologies more than doubled profits last year and is set to restore its dividend.

Revenues grew 36% to £11.2m as pre-tax profits leapt from £432,000 to £1.02m for the year to the end of December.

John Kembery, executive chairman of Belgravium, said:  “2011 was a very good year in which we delivered a strong financial performance and made substantial progress in achieving our strategic objectives. 

“Looking forward, although visibility on sales is always limited, we believe our market position has strengthened and that we are well placed to capture future opportunities.”

Belgravium said it was strengthening its sales team to improve geographic coverage and has new products ready to launch this year.

Last year also saw the company pay off a loan leaving it debt free and ending 2011 with £1.22m in cash.

The company is now set to restore the dividend on the back of its latest results and is planning to pay 0.1p per share.