Last checked at 29 May 2014 07:01
29 May 2014
BELGRAVIUM TECHNOLOGIES PLC
(AIM: BVM)
AGM Statement
Belgravium Technologies, the provider of mobile on-board retail solutions, is holding its Annual General Meeting ("AGM") today at 11.00 a.m.
At the AGM John Kembery, the Chairman, will make the following statement:
"Trading in the year to date is significantly ahead of the equivalent period last year albeit that it has commenced more slowly than expected. As in previous years the results for the year as a whole are expected to be heavily second half weighted.
The new sales strategy is creating a good deal of opportunity. We were delighted in April to be awarded by First Great Western a retail sales contract to the value of £1.1 million. In addition, we have announced this morning another significant contract worth circa £420,000 with a major European carrier. These contract wins, the principal benefits of which will be in the second half, demonstrate our ability to compete at the highest level. The level of order enquiries is encouraging and we are confident that a good proportion of these can be converted to sales in the second half.
The year to date has also seen a significant cash inflow into the balance sheet, reversing a lower than usual 2013 year end position and restoring it to levels very similar to those prior to the Feedback acquisition. At the end of the April 2014, cash in the Bank stood at £1.9 million."
Contacts:
Belgravium Technologies Plc www.belgravium-technologies.com
John Kembery, Executive Chairman +44 (0) 7770 731 021
WH Ireland Limited (Nominated Adviser and Broker) www.wh-ireland.co.uk
Mike Coe / Ed Allsopp (Corporate Finance) +44 (0) 117 945 3470