Belgravium chases growth opportunities
MOBILE data services business Belgravium Technologies today said it is confident it can maintain progress and will continue to seek to grow both organically and by acquisition.
The Yorkshire group announced its interim results for the six months ended June 30 2013 and said its half year profits are in line with the equivalent period last year.
Bradford-based Belgravium, which supplies and manages a range of mobile computing services with a focus on the logistics, transportation and mobile retailing sectors, reported a drop in adjusted pre-tax profit, associated with some restructuring and the acquisition, from £151,000 to £142,000 on turnover of £4.1m from £4.3m in the first half of 2012.
John Kembery, chairman of Belgravium, said: “Although order intake was slow at the start of the year, the second quarter picked up, enabling the Belgravium group to finish the half year with profits in line with the equivalent period last year. We also successfully completed a promising acquisition which we expect to bring significant benefits in the years to come.
“We are confident that recent progress will be maintained and expect a better performance in the second half of the year.”
Belgravium said the shortfall in sales is explained by an export sale in which the hardware was supplied directly rather than being part of the main contract.
The group said the first half of 2013 has shown “significant” progress in the redefinition of its role from hardware manufacturer to supply and management of integrated systems, which it said it “vitally” important to the long term health of the group.
Earlier this year, Belgravium completed the acquisition of workforce management firm Feedback Data (FDP) in a £600,000 deal. The group said this allows growth in new market verticals.
Belgravium said: “To fully restore Belgravium’s profitability to previous levels, turnover needs to grow faster than is probable by organic means alone.
“We do not expect the financial restraint which has characterised our market for some time to change significantly, and as a result, we have reshaped the group to provide and manage a broad range of products and services.
“After a slow start to 2013, we are pleased that the measures undertaken to improve profitablity have been effective and that the commercial strategies are working. We will continue to seek to grow both organically and by acquisition.
“We are confident that recent progress will be maintained and expect a better performance in the second half of the year.”
