Presentation18 Mar 2014 06:49
http://boards.fool.co.uk/mello-flavour-belgravium-technologies-12995379.aspx?sort=postdate
The key point though, the chairman wanted to stress Belgravium was a “complete solution” company - so they provide BOTH hardware and software and also can do all sorts of clever stuff. If you want a logistics package that also has an element of telematics, so you can monitor the driver’s behaviour, plus check they aren’t falling asleep at the wheel and also have some tyre pressure monitoring software, but with special “spark free” in cab computer device to be used in the petroleum industry, that also prints delivery notes… not a problem.
This is the area the company seems to be refocusing on. Maybe “software AND hardware - but software first”. So, out go certain sales and IT people “not because they weren’t good - but because they didn’t do what we needed”, in come sales people with a different focus and more software engineers. I think they put some of these costs related to this process as “exceptionals” in the recent finals.
They also made an acquisition last year, in a company (“Feedback”) that seems to produce hardware and software around logging if someone is actually working where they say they are, as well as technology for opening and locking doors. Instead of swiping a pass, you swipe your finger. As a result, no one can clock in on your behalf - unless you sacrifice a finger. There are presumably lots of applications of this sort of technology and it looked a very sensible fit to my untrained eye.
Whilst we’re on that topic, the clients for Feedback, were some big names. Tesco, John Lewis, RAF, Mitre, Unilever, Travelodge etc. They also had 55% recurring revenues. He seemed quite bullish about this section of the business.
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