News blog

Belgravium Technologies

• BY: Andrew Hore |
• POSTED: 06/03/2013 |

Warehouse data systems services provider Belgravium Technologies has maintained its dividend at 0.1p a share even though its profit slumped in 2012.

Revenues fell from £11.2m to £8.67m and this led to a drop in profit from £1.02m to £282,000. A small decline in admin costs was not enough to offset the effect of lower revenues. The dividend is still more than three times covered.

One positive of the lower trading levels was a reduction in debtors and an improvement in net cash to £1.57m.

In 2011, there wer a number of large contracts and Belgravium could not repeat these in 2012 as orders were delayed. This is unlikely to change this year and costs have been cut. The product range has been widened into telematics. 

Acquisitions are being assessed so that Belgravium can increase its geographical coverage or move into new market sectors.

House broker WH Ireland forecasts doubled profit to £600,000 in 2013. At 3.25p a share, down 0.62p, Belgravium is valued at £3.28m. The shares are trading on just over six times prospective 2013 earnings.

Download the latest AIM Journal from http://www.hubinvest.com/AIMPDFFebruary2013_41.pdf