Belgravium Technologies acquisition will help accelerate success

BELGRAVIUM Technologies today said it expects to make “accelerated” progress this year following the successful acquisition of Feedback Data.

The mobile data services business increased pre-tax profits to £400,000 in the year to December 31 despite revenues falling slightly to £8.425m from £8.669m.

Bradford-based Belgravium, which supplies and manages a range of mobile computing services with a focus on the logistics, transportation and mobile retailing sectors, said that 2013 was a year of “consolidation” and the acquisition of Sussex business Feedback Data last May would make 2014 more successful.

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Chairman John Kembery, said: “2013 was a year of consolidation in the core business supplemented by the successful acquisition of Feedback. In 2014 we expect to make further and accelerated progress.  The economic outlook is at long last improving and we expect this to encourage our customers to start spending more readily. We believe the measures we have taken over the last few years to reduce costs and enhance our product offering have placed Belgravium in a  good position to capitalise on this change and that 2014 will prove to be a significantly more successful year.”

The group plans to maintain its dividend at 0.1p and said its balance sheet remains debt free.