News blog

Belgravium Technologies

• BY: Andrew Hore |
• POSTED: 04/12/2014 |

Belgravium Technologies has warned that it will not meet expectations for 2014.

The disappointment is due to the delay of a contract. House broker WH Ireland has cut its 2014 profit forecast from £700,000 to £500,000, compared with £336,000 last year. The interim profit was £214,000.

The share price has dropped 0.38p to 4.75p, which values Belgravium at £4.8m. The forecast dividend has been cut from 0.2p a share to 0.12p a share.

Belgravium is acquiring access control and security systems supplier Access Fire and Security for £500,000 in cash – assuming that there is cash of £170,000 in the balance sheet. In the year to January 2014, revenues were £729,000 and pre-tax profit was £29,000. This business will be merged with the Feedback Data acquisition. This should be significantly earnings enhancing in 2015.

Even so, WH Ireland has cut its 2015 profit forecast from £900,000 to £700,000. The shares are trading eight times prospective 2015 earnings.

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