Belgravium profits up in "cautious" market

DATA capture company Belgravium Technologies saw sales down but profits up as the benefits of two acquisitions helped it last year.

The Bradford-based company warned last year that customers were becoming more cautious and cutting their capital expenditure and it saw turnover fall 2.9% to £10.6m in the year to December 31.

However it improved its pre-tax profits by 11% to £2.05m from £1.84m last time thanks to the “valuable contributions” of its Touchstar and Novo businesses, said chairman John Kembery.

Touchstar Technologies supplies the oil and petrochemical industry, and Novo IC supplies on-board sales computers to the likes of First Great Western, Thomas Cook and Lufthansa.

Belgravium makes hand-held computers which allow companies to check on their stock, known as 'real-time data capture'.

Mr Kembery said that during a difficult year, the company had “coped well”.

“The market was a trifle difficult. We are selling capital goods and people are slowing up in their spending on those. But we are continuing to gain efficiency, it is still a bit cautious but there is plenty of work in the pipeline, it is just harder to convert it,” he added.

Mr Kembery said that the group would concentrate on organic growth this year and would focus on acquisitions in the future when the value of its shares improved.

Belgravium is paying a final dividend of 0.38p, up from 0.36p last time.