Belgravium Technologies edged up its profit in 2010 and it has its best order book for three years.
The mobile data capture systems supplier generated flat revenues of £8.2m and profit improved from £405,000 to £432,000 as admin expenses fell. The tax charge was just over 11%, compared to a credit in 2009. A large increase in creditors helped Belgravium reduce its net debt from £1.42m to £264,000. However, working capital requirements will increase as business recovers.
It appears that customers are regaining enough confidence to consider going ahead with the spending they have been putting off for three years or more. A new contract with a French customer, which should be worth €4m, will be completed in 2012.
At 5.25p a share, Belgravium Technologies is valued at £5.3m.
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