Mobile data capture systems supplier Belgravium Technologies has increased its recurring income to more than two-fifths of revenues.
In 2011, revenues grew 36% to £11.2m, while pre-tax profit jumped 137% to £1.02m as admin expenses rose modestly. This has enabled Belgravium to restore its dividend. Belgravium is paying 0.1p a share.
Net cash was £1.0m at the end of 2011.
Last year, new contracts were one with British Airways, parcel delivery firm Hermes and a large French energy company, worth £3.3m. These contributed in 2011 and will still make significant contributions this year.
New product launches will help to boost sales this year but Belgravium will do well to maintain its performance last year. The sales force is being increased and geographic coverage widened. This will help the figures in 2013.
At 8.75p a share, Belgravium is valued at £8.83m.
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