![](/cdn/assets/images/search/clock.png)
We could not find any results for:
Make sure your spelling is correct or try broadening your search.
Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Belgravium Tech | LSE:BVM | London | Ordinary Share | GB0002961224 | ORD 5P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 3.875 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
TIDMBVM
RNS Number : 5811L
Belgravium Technologies PLC
06 September 2012
For Immediate Release 6 September 2012
Belgravium Technologies plc
Interim Results for the Six Months ended 30 June 2012
The Board of Belgravium Technologies plc ((AIM:BVM) 'Belgravium' or 'the Group'), suppliers of mobile data computing solutions and managed services to a variety of industrial sectors, is pleased to announce Interim results for the six months ended 30 June 2012.
Key Financials:
30 June 2012 30 June 2011 -- Turnover GBP4,320,000 GBP4,773,000 -- Profit before tax GBP151,000 GBP321,000 -- Basic earnings per share 0.13p 0.24p -- Net cash GBP1,566,000 GBP638,000
Commenting on the interim results, John Kembery, Chairman of Belgravium, said:
"This year is following a similar pattern to last year with a relatively weak first half to be followed by a significantly stronger second half. None of the contracts which had been expected in the first half have been lost and it is anticipated that they will be delivered later in the year. In addition, we have a good level of enquiries with potential of delivery in the second half. However, at present we are uncertain as to whether the second half of the year will be as strong as last year.
What is clear to the Board is that Belgravium is in a very strong competitive position and it remains confident that Belgravium can continue to secure new business opportunities as they arise."
For further information please contact:
Belgravium Technologies John Kembery: 07770 731021 Plc W H Ireland - Nominated Mike Coe: 0117 945 3472 Adviser WH Ireland Broker Jessica Metcalf: 0113 394 6623 Cadogan PR Alex Walters: 07771 713 608
Information on Belgravium Technologies plc can be seen at: www.belgravium-technologies.com
CHAIRMAN'S INTERIM STATEMENT 2012
The continuing financial turmoil has affected the Belgravium Group's trading during the first half of 2012 and in the six months ended 30(th) June 2012 with the results being below the level we had hoped for. However similar to last year we expect a significantly stronger second half as we have secured a number of contracts for delivery in the second half and enquiry levels are encouraging.
RESULTS
Group sales totalled GBP4,320,000 compared to GBP4,773,000 in the first half of 2011. As a result, profit before tax for the first half of 2012 was GBP151,000 compared to GBP321,000 in the first half of 2011. Earnings per ordinary share were 0.13p in the first half of 2012 compared to 0.24p in 2011.
Notwithstanding this, the Group continued to generate cash with net cash standing at GBP1,566,000 at the period end. The Group is therefore in a strong cash position and well placed to continue investing for the future as and when required.
THE MARKET
Sales in the second half of 2011 showed some buoyancy which we had expected would continue into 2012. However, as conditions worsened in international financial markets during the first half, hesitancy to place orders returned, with customers once again becoming reluctant to commit funds to new or upgraded projects. In general, contracts are not being lost but are being delayed. This is even happening with replacement of old systems which cannot be supported or maintained due to the non-availability of components.
Despite this, we continue to see no shortage of opportunities and our staff have been very busy, designing and developing systems which can deliver to the client immediate benefits in cost saving and improved functionality.
OPERATIONAL REVIEW
In the first half of 2012 our sales and technical teams were very busy, not only pursuing new opportunities but also continuing to provide a comprehensive support package to our clients, which is crucial to future sales.
On the sales front during the period we announced that we had completed installation of our on-board retail software system, for British Airways. This project, on which we worked with Tourvest, a leading in-flight duty free operator, is proving a strong reference point for us in pursuing other opportunities in the airline sector.
In addition in the year to date, we have secured a number of notable contract wins such as with Air Berlin, Musgrave Wholesale and Express Gifts. We also announced the first orders for a new product, the TouchPC Hawk a rugged touch tablet computer.
The Company has continued to take steps to ensure it can maximise the opportunities when they arise. We continue to invest in people. Ours is a very specialised business and when staff with the right skills become available, we will hire them.
In addition, in-house product development continues with an added momentum aimed at both improving existing products and having new ones available for future market requirements.
Where we do not have the expertise in a particular sector we seek to improve the completeness of our solution by working with partners. For example, we are in the process of defining a marketing arrangement with Isotrak who are market leaders in innovative solutions for vehicle telematics. This is an area of great potential interest to our logistic market.
Such arrangements have already worked well for example, enabling us to gain contracts for 'chip and pin' solutions through our relationship with Ingenico. We announced in June that Thomas Cook had become the first UK airline to be granted accreditation from banks for the processing of chip and pin card sales using Belgravium's system.
The most essential feature of our present and future strategy is to provide and manage a complete mobile computing solution for our clients. This has become particularly important as integrated systems become more essential to the health and profitability of any business and clients seek complete solutions. This is the area in which we believe many of our competitors struggle and it is therefore essential in both widening our sales opportunity and, most importantly, generating more repeat revenue.
BALANCE SHEET
Cash and cash equivalents at the end of June 2011 totalled GBP987,000 and by the end of June 2012 this had increased to GBP1,620,000. This cash generation was despite paying off the term loan which was GBP349,000 at the end of June 2011 and paying a dividend of GBP101,000. Overall, the balance sheet is now in great shape and the policy to avoid debt in an uncertain environment has worked well.
DIVIDEND
The Board is committed to a progressive dividend policy and was pleased to be able to re-instate a final dividend paid on the results of 2011. It is expected that this policy will be maintained against the full year results for 2012.
OUTLOOK
This year is following a similar pattern to last year with a relatively weak first half to be followed by a significantly stronger second half. None of the contracts which had been expected in the first half have been lost and it is anticipated that they will be delivered later in the year. In addition we have a good level of enquiries with potential of delivery in the second half. However, at present we are uncertain as to whether the second half of the year will be as strong as last year.
What is clear to the Board is that Belgravium is in a very strong competitive position and it remains confident that Belgravium can continue to secure new business opportunities as they arise.
Consolidated income statement for the six months ended 30 June 2012 Notes 6 months 6 months to to 30 June 2011 30 June Total 2012 (Unaudited) Total GBP'000 (Unaudited) GBP'000 Revenue 4,320 4,773 ------------- -------------- Operating profit 154 334 Finance income 1 1 Finance costs (4) (14) ------------- -------------- Profit before tax 151 321 Income tax expense (22) (74) ------------- -------------- Profit for the period attributable to equity shareholders 129 247 ------------- -------------- Basic earnings per ordinary share (pence) 2 0.13 0.24 ------------- -------------- Consolidated statement of changes in equity for the six months ended 30 June 2012 Called Share Capital Profit Total up share premium redemption and loss capital account reserve account (Unaudited) (Unaudited) (Unaudited) (Unaudited) GBP'000 GBP'000 (Unaudited) GBP'000 GBP'000 GBP'000 At 30 June 2011 5,047 2,932 2,100 188 10,267 Profit - - - 629 629 At 31 December 2011 5,047 2,932 2,100 817 10,896 Profit - - - 129 129 Equity dividends - - - (101) (101) At 30 June 2012 5,047 2,932 2,100 845 10,924 ------------- ------------- ------------- ------------- ------------- Consolidated balance sheet as at 30 June 2012 As at As at As at 30 June 30 June 31 December 2012 (Unaudited) 2011 (Unaudited) 2011 (Audited) GBP'000 GBP'000 GBP'000 Non-current assets Intangible assets Goodwill 9,124 9,124 9,124 Other intangible assets 266 246 273 Property, plant and equipment 333 248 383 9,723 9,618 9,780 ------------------ ------------------ ---------------- Current assets Inventories 1,977 1,574 1,544 Trade and other receivables 1,674 2,627 3,006 Cash and cash equivalents 1,620 987 1,220 ------------------ ------------------ ---------------- 5,271 5,188 5,770 ------------------ ------------------ ---------------- Total assets 14,994 14,806 15,550 ------------------ ------------------ ---------------- Current liabilities Trade and other payables 2,819 4,015 3,319 Current corporation tax liabilities 179 97 157 Deferred income tax liabilities 70 61 70 Financial liabilities: Borrowings and finance lease liabilities 11 349 98 Short term provisions 13 17 13 ------------------ ------------------ ---------------- 3,092 4,539 3,657 ------------------ ------------------ ---------------- Non current liabilities Deferred income 935 - 949 Financial liabilities: Borrowings and finance lease liabilities 43 - 48 ------------------ ------------------ ---------------- Total liabilities 4,070 4,539 4,654 ------------------ ------------------ ---------------- Capital and reserves attributable to equity holders of the company Ordinary shares 5,047 5,047 5,047 Share premium reserve 2,932 2,932 2,932 Capital redemption reserve 2,100 2,100 2,100 Profit and loss account 845 188 817 ------------------ ------------------ ---------------- Total equity 10,924 10,267 10,896 ------------------ ------------------ ---------------- Total equity and liabilities 14,994 14,806 15,550 ------------------ ------------------ ---------------- Consolidated statement of cash flows For 6 months to 30 June 2012 6 months 6 months to to 30 June 30 June 2012 (Unaudited) 2011 (Unaudited) GBP'000 GBP'000 Cash flows from operating activities Operating profit 154 334 Depreciation 90 62 Amortisation 67 66 Movement in: Inventories (433) (422) Trade and other receivables 1,332 839 Trade and other payables (514) 88 Cash generated from operations 696 967 Interest received 1 1 Interest paid (4) (14) Corporation tax received - 35 Net cash generated from operating activities 693 989 Cash flows from investing activities Expenditure on intangible fixed assets (60) (34) Purchase of property, plant and equipment (40) (53) ------------------ ------------------ Net cash used in investing activities (100) (87) ------------------ ------------------ Cash flows from financing activities Repayment of finance lease contracts (5) - Repayment of bank borrowings (87) (261) Dividends paid to company's ordinary shareholders (101) - Net cash used in financing activities (193) (261) ------------------ ------------------ Net increase in cash and cash equivalents 400 641 Cash, cash equivalents and bank overdrafts at the beginning of the period 1,220 346 ------------------ ------------------ Cash, cash equivalents and bank overdrafts at the end of the period 1,620 987 ------------------ ------------------ Notes to the interim report For 6 months to 30 June 2012 1. This financial information comprises the condensed consolidated interim balance sheet as at 30 June 2012 and 30 June 2011 and related consolidated interim statement of income and cash flows for the six months then ended of Belgravium Technologies plc (hereinafter referred to as 'financial information'). Belgravium Technologies plc is listed on the AIM, a market operated by London Stock Exchange plc. This financial information for the half year ended 30 June 2012 has neither been audited nor reviewed and does not comprise statutory accounts within the meaning of section 434 of the Companies Act 2006. This financial information was approved by the Board on 5 September 2012. This financial information has been prepared in accordance with pronouncements on interim reporting issued by the ASB, AIM Rule 18 and the accounting policies set out in the 2011 annual report and financial statements which are prepared in accordance with IFRS as adopted by the European Union. The Group has chosen not to adopt IAS 34 'Interim financial statements' in preparing this financial information. This financial information has been prepared under the historical cost convention. The audited accounts for the year ended 31 December 2011 upon which the auditors issued an unqualified opinion, have been delivered to the Registrar of Companies. The audit report on the 2011 accounts did not contain an emphasis of matter paragraph and did not contain a statement made under section 498 of the Companies Act 2006. 2. Earnings per ordinary share 2012 2011 (Unaudited) (Unaudited) GBP GBP Basic earnings per ordinary share 0.13p 0.24p ------------- ------------------------- Basic earnings per share is calculated by dividing the earnings attributable to ordinary shareholders by the weighted average number of ordinary shares outstanding during the period. There were no dilutive ordinary shares. 2012 2011 (Unaudited) (Unaudited) Weighted Weighted Earnings average Earnings average GBP'000 number GBP'000 number of shares of shares (in thousands) (in thousands) Basic EPS Earnings attributable to ordinary shareholders 129 100,937 247 100,937 ------------- ----------------- ------------- ------------------------- 3. The Company did not declare an interim dividend in the half year ended 30 June 2012. 4. Copies of this statement will be made available to the public at the Company's office:- 2 Campus Road, Listerhills Science Park, Bradford, West Yorkshire, BD7 1HR, or can be obtained from our website at www.belgravium-technologies.com
This information is provided by RNS
The company news service from the London Stock Exchange
END
IR SSUFDIFESEDU
1 Year Belgravium Chart |
1 Month Belgravium Chart |
It looks like you are not logged in. Click the button below to log in and keep track of your recent history.
Support: +44 (0) 203 8794 460 | support@advfn.com
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions