Last checked at 7 Dec 2012 07:00
7 December 2012
Belgravium Technologies plc
Update on Trading
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 provides the following update on trading for the financial year ended December 2012.
Group Trading Performance
It was reported at the time of publishing interim results that the Group was experiencing delays in anticipated contract orders as customers were proving reluctant to commit to the necessary expenditure. At the time, we expected that these orders would be received in the second half as has been the case in previous years when we have normally enjoyed much stronger trading with a particularly good final quarter.
It is now apparent that these orders are unlikely to materialise within this time frame and as a result, the Group's sales and profit levels for the year are likely to be below market expectation.
On the positive side, the Board is mindful that sales order prospects have not been lost, but delayed and that the Group cash flow remains positive. Whilst the cost base is being actively reviewed, it is anticipated that dividend payments to shareholders will be maintained at a similar level to last year.
For further information please contact:
Belgravium Technologies Plc John Kembery 07770 731021
W H Ireland - Nominated Advisor Mike Coe 0117 945 3470
W H Ireland - Investor Relations 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