Belgravium takes market share and sees sales rise

DATA capture systems specialist Belgravium Technologies has seen profits rise following an improvement in sales and market share.

The Bradford-based firm, which designs and installs real-time data capture systems in the logistics, petrochemical and mobile retailing markets, has reported a 94% increase in pre-tax profits for the six months ended June 30 from £72,000 to £140,000.

Sales totalled £4.2m compared with £3.9m in the first half of 2008 – a rise of 9%.

Back in March, Belgravium reported a dramatic pre-tax profit slide from £2m in 2007 to £398,000 for the year ended December 31, 2008.

At the time it said its results were in line with revised market expectations and reflected a year in which “unprecedented worldwide economic problems” had led to a general loss of buying confidence in all its markets.

Announcing its results today, Belgravium said early success with its Boston hand-held terminal had helped it secure a major contract for the tracking and location of palletised goods.

The firm is also enjoying greater activity in the petrochemical market and recently signed an agreement with SHV Group for the supply of systems for control and delivery of bottled and bulk LPG.

Similar opportunities are also being followed up in Europe – some of which are expected to materialise shortly.

The introduction of a ‘pay per transaction’ model for its mobile retailing division has helped maintain its revenue stream. The majority of customers for this division are airlines.

A hike in US orders and cost controls including job cuts have also helped Belgravium. The firm added that very few orders had been lost to rivals.

It said that its strategy now was to capitalise on opportunities.

“We are convinced that our chosen market sectors will recover as financial confidence is regained,” Belgravium said in a statement.

“Where we have identified longer term opportunities for which we are not fully prepared, we seek strategic relationships with existing providers. Some such relationships are developing well.”