We could not find any results for:
Make sure your spelling is correct or try broadening your search.
Register for streaming realtime charts, analysis tools, and prices.
| 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 |
Hot Features
Premium
RNS Number:4767A
Belgravium Technologies PLC
29 August 2002
EMBARGOED FOR RELEASE AT 07:00am 29 AUGUST 2002
BELGRAVIUM TECHNOLOGIES PLC
(AIM)
INTERIM RESULTS
FOR THE 6 MONTHS TO 30 JUNE 2002
Belgravium Technologies PLC, the real time data capture technology group, is
pleased to announce its unaudited Interim Results for the 6 months ended 30 June
2002.
Highlights on continuing operations
* Pre Tax profits at #755,000 up 14% (#663,000 at 30 June 2001)
* Net cash position of #1,623,000 (#330,000 at 30 June 2001)
* Undiluted Earnings Per Share 0.77p
* Interim Dividend of 0.12p per share (June 30 2001: Nil)
* Significant export sales
John Kembery, Executive Chairman of Belgravium Technologies PLC commented today:
"The Group has performed well during the first half of 2002. We have delivered
increased profits and earnings per share by expanding our sales coverage and
continuing cost controls. We have seen growth outside of the UK market, which
remains consistent with our long-term policy of developing sales in other
territories. Belgravium is currently trading in line with expectations and the
Company is well placed for sustained growth in the future."
For further information, please contact:
John Kembery 07770 731021
Executive Chairman, Belgravium Technologies Plc
Kelly-Ann French 07958 972164
Barnes and Walters Ltd
CHAIRMAN'S STATEMENT
Results
Profit before tax on continuing operations increased by 14% to #755,000
(#663,000 30 June 2001). Earnings per share were 0.77p, which is very much in
line with expectations. Belgravium's turnover for the first half of 2002 was
#2,188,000, compared to #2,271,000 in the same period last year. This reflects
the slight slow down in the speed with which projects are being converted into
contracts within the UK logistics industry in the current economic climate. That
the Company made increased profits on a slightly reduced turnover, is indicative
of the real quality of the business. However, the number of initial enquiries
remains high and the project pipeline well stocked.
Balance Sheet
Another important success for the business is the way in which it has continued
to generate cash. Despite a number of significant outgoings, such as the final
dividend for 2001, the net cash position at 30 June was #1,623,000, compared to
#330,000 a year ago.
Continuing Business
Belgravium is concerned with real time electronic data capture as applied to
warehousing and the supply chain. Throughout 2002, the UK logistics industry has
continued to provide opportunities for expansion and remains as convinced as
ever that Belgravium's products provide efficient cost saving solutions. The
Company has recognised a change in the speed with which contracts are signed and
decisions are made. However, this is simply a result of the extra caution which
is being taken within the current financial environment and is, the Directors
believe, by no means a reflection of a permanent downturn.
The first half of 2002 has seen the beginnings of sales from our network of
European distributors set up in 2001 by our recently appointed International
Sales Manager. Belgravium's strategy of developing European sales has
contributed to increased profits. We will continue to push forward in this
objective whilst preparing for increased confidence within the UK market and
developing the application of our products in parallel markets.
In April 2002, Belgravium hosted a highly successful seminar in Birmingham,
which coincided with the launch of our new hand held product, the Atlanta. Over
400 delegates attended, which was a tribute to our reputation and significance
within the UK market. From this, we were able to secure a substantial on-going
contract with The Entertainment Network, a joint venture between Sony Music
Entertainment UK and Warner Music UK Ltd. Enquiries are still being made by
other attendees and we expect these to be translated into contracts in the
latter part of 2002 and 2003.The Atlanta, which contains a wide range of new
features and applications, was well received and we believe that this product
will spearhead our European sales campaign in the future. This data capture
hardware is based upon Windows CE and is capable of working with established
European wireless technologies.
Belgravium continues to work with an impressive collection of blue-chip
customers throughout the UK including P&O, Coca Cola and Wincanton. We expect
this type of high quality working relationship to continue arising. We will
continue to maintain these contracts through excellent customer service and
bespoke packages.
Acquisitions
Whilst it continues to demonstrate organic growth, Belgravium will consider the
possibility of acquisitions as and when they arise, but is determined to wait
for the right opportunity which would enhance the performance of the Group.
Dividend
Consistent with our policy of paying dividends, the Directors are declaring an
interim dividend of 0.12p per share (2001: nil), payable on 3 December 2002.
Outlook
In the first half of 2002, we have managed to deliver enhanced profits and
earnings per share within a cautious and selective UK market. We have done this
by expanding our sales coverage, consistently delivering first class service,
and through continuing cost controls.
Belgravium is currently trading in line with expectations and is well placed for
sustained growth in the future.
John Kembery
Executive Chairman
BELGRAVIUM TECHNOLOGIES PLC
UNAUDITED PROFIT AND LOSS ACCOUNT
FOR THE 6 MONTHS TO 30 JUNE 2002
Total
6 months to
30/06/02
(Unaudited)
#'000
Turnover 2,188
Operating profit 731
Profit before interest and taxation 731
Net interest receivable 24
Profit on ordinary activities before taxation 755
Tax charge on ordinary activities (226)
Profit on ordinary activities after taxation 529
Ordinary dividend (83)
Retained profit for period 446
Basic earnings per ordinary share (pence) 0.77
Diluted earnings per ordinary share (pence) 0.76
The above results are derived from continuing operations
Continuing Discontinued
Operations Operations Total
6 months to 6 months to 6 months to
30/06/01 30/06/01 30/06/01
(Unaudited) (Unaudited) (Unaudited)
#'000 #'000 #'000
Turnover 2,271 3,335 5,606
Operating profit/(loss) 663 (208) 455
Loss on sale of discontinued operations 0 (3,331) (3,331)
Profit/(Loss) before interest and taxation 663 (3,539) (2,876)
Net interest payable (36)
Loss on ordinary activities before taxation (2,912)
Tax charge on ordinary activities (126)
Retained loss for period (3,038)
Basic loss per ordinary share (pence) (4.62)
Diluted loss per ordinary share (pence) (4.61)
BELGRAVIUM TECHNOLOGIES PLC
GROUP BALANCE SHEET
AS AT 6 MONTHS TO 30 JUNE 2002
As at As at As at
30 June 2002 30 June 2001 31 Dec. 2001
(Unaudited) (Unaudited) (Audited)
#'000 #'000 #'000
Fixed assets
Tangible assets 252 184 242
252 184 242
Current assets
Stocks 398 317 315
Debtors 1,205 1,327 974
Properties held for re-sale 225 225 225
Cash at bank and in hand 1,623 330 1,171
3,451 2,199 2,685
Creditors:
Amounts falling due within one year 1,899 1,247 1,561
Net current assets 1,552 952 1,124
Total assets less current liabilities 1,804 1,136 1,366
Creditors:
Amounts falling due after more than one year 0 126 0
Provision for liabilities and charges
Provisions 100 122 108
1,704 888 1,258
Capital and reserves
Called up share capital 3,441 3,441 3,441
Share premium 120 120 120
Capital redemption reserve 2,000 2,000 2,000
Revaluation reserve 25 25 25
Profit and loss account (3,882) (4,698) (4,328)
1,704 888 1,258
Shareholders' funds are attributable to:
Equity interests 1,704 888 1,258
Non-equity interests 0 0 0
1,704 888 1,258
BELGRAVIUM TECHNOLOGIES PLC
GROUP CASH FLOW STATEMENT
AS AT 6 MONTHS TO 30 JUNE 2002
2002 2001
(Unaudited) (Unaudited)
#'000 #'000
Net cash inflow from operating activities 503 923
Returns on investments and servicing of finances
Interest received 24 7
Interest paid 0 (45)
Finance charges paid under finance leases and
hire purchase contracts 0 (4)
Dividends paid to ordinary shareholders (103) 0
(79) (42)
Capital expenditure and financial investment
Purchase of tangible assets (51) (142)
Sale of tangible assets 0 230
(51) 88
Disposals
Proceeds from sale of subsidiary companies 80 3,385
Disposal costs 0 (311)
Net cash of businesses sold 0 (2,242)
80 832
Net cash inflow before financing 453 1,801
Financing
Proceeds from issue of ordinary share capital 0 420
Lease and hire purchase obligations repaid (1) (46)
Loan capital repaid 0 (1,352)
(1) (978)
Increase in cash 452 823
Reconciliation of net cash flow to movement in net debt
2002 2001
(Unaudited) (Unaudited)
#'000 #'000
Increase in cash 452 823
Lease and hire purchase obligations repaid 1 46
New finance leases 0 (60)
Finance leases of subsidiaries disposed of 0 136
Loan capital repaid 0 1,352
Movement in net funds during year 453 2,297
Net funds/(debt) at 1st January 1,170 (1,973)
Net funds at 30th June 1,623 324
Group cash flow statement
(a) Reconciliation of operating profit to net cash inflow from operating
activities
2002 2001
(Unaudited) (Unaudited)
#'000 #'000
Operating profit 731 455
Depreciation 41 123
Movement in provisions (8) (66)
Funds generated by operations 764 512
(Increase)/decrease in stocks (83) 111
(Increase) in debtors (311) (61)
Increase in creditors 133 361
(Increase)/decrease in (261) 411
working capital
Net cash inflow from 503 923
operating activities
(b) Analysis of net (debt)/funds
At 1st January At 30th June
2002 Cash flow 2002
(Audited) (Unaudited) (Unaudited)
#'000 #'000 #'000
Cash at bank and in hand 1,171 452 1,623
1,171 452 1,623
Finance leases (1) 1 0
1,170 453 1,623
Notes to the Interim report
For the 6 months to 30th June 2002
1.
The interim report has not been audited and the information contained in this
interim statement does not constitute statutory accounts as defined in section
240 of the Companies Act 1985. The audited accounts for the year ended 31
December 2001, upon which the auditors issued an unqualified opinion, have been
delivered to the Registrar of Companies.
2.
(a) Earnings/ (loss) per share has been calculated on the average number of
ordinary shares in issue of 68,825,759 (2001 interim's 65,776,035).
(b) Fully diluted earnings/(loss) per share has been calculated on the average
number of ordinary shares, assuming conversion of all dilutive potential
ordinary shares, of 69,804,036 (2001 interim's 65,904,460).
3.
The record date for the proposed dividend for Belgravium Technologies Plc is 8
November 2002 (Ex-Dividend Date 6 November 2002).
4.
Copies of this statement will be posted to shareholders and further copies will
be made available to the public at the company's office: Campus Road,
Listerhills Science Park, Bradford, West Yorkshire, BD7 1HR.
ENDS
This information is provided by RNS
The company news service from the London Stock Exchange
END
IR PPMFTMMMTBJT
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
