Mobile hardware and software systems supplier Belgravium Technologies reported higher 2007 profits.
Trading was tough but Belgravium still managed to make progress. Profits increased 11% to £2.05m on turnover 3% lower at £10.6m in 2007. However, there was a small dip in second half profits. International sales account for four-fifths of turnover.
Net debt ended the year at £1.96m. The final dividend is increased from 0.36p to 0.38p a share, taking the total for the year to 0.52p a share.
Software licensing and service revenues will become increasingly important. Hardware will still be a significant revenue contributor, though. A new product will be launched in 2008.
The shares rose 0.5p to 11p. New house broker WH Ireland forecasts a profit of £2.2m in 2008, which would put the shares on seven times earnings.
Belgravium would like to find additional acquisitions but they are difficult to find. It is particularly interested in software applications that would take the business into new market sectors.
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