Belgravium Technologies says that trading has been slow in 2008.
The supplier of mobile hardware and software systems to distributors and airlines blames the lack of contracts on the general economy rather than its own markets. Customers don’t want to commit to capital spending. This will mean that first half profits will be “substantially below expectations”.
There are plenty of longer-term projects in the pipeline but their timing is uncertain. Belgravium says that almost no contracts have been lost to competitors. It hopes that demand will recover before the end of the year.
Chairman John Kembrey promises a “new high specification product” will be launched in the near future. Belgravium already has potential orders for 5,000 units.
The shares slumped 2.375p to 7.125p, valuing Belgravium at £7.19m.
© 2021 Aim Micro. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.