Belgravium upbeat despite slowdown in market

DATA capture company Belgravium Technologies said today a cautious market was holding it back as global economic conditions begin to have an impact on the company.

At its AGM chairman John Kembery said that while the longer term pipeline of new projects remained very healthy – the group was unclear about when the projects might come to fruition.

The Bradford-based company said that the lack of new contracts would have a impact on first half results which are expected to be “substantially below 
expectations.”

Mr Kembery said: “Customers have a real need for Belgravium systems and the efficiency savings they bring and cannot postpone purchases indefinitely.  Almost no contracts have been lost to competitors but, as the purchasing decision is regarded as a capital project, it is subject to the severe financial  constraints prevalent in the current market.”

However he added that he expected the situation to remedy itself later in the year – improving sales and results by the final quarter.

The company specialises in the manufacture of mobile computing and radio frequency data communications used by customers including mail delivery group TNT.

It added that it was continuing to  examine acquisition opportunities and has developed a new high specification product which will be launched later this year.  

Pre-production samples have already generated a strong response and the company has in place an agreement for 5,000 units.

Mr Kembery added: “Whilst Belgravium, like all companies, is experiencing the effects of current markets, we are convinced and comforted that this is not driven by a permanent change in our specific industry and that the company is positioned strongly to address demand once markets recover.”