25 May 2012

Belgravium on track

11/01/2012

Thanks to a strong second half, data capture specialist Belgravium (BVM) has stated it is on track to deliver market expectations for 2011.

Penny share favourite Belgravium has witnessed reasonable markets in all its main segments, with logistics and transportation performing well, but the standout sector has been in on-board retail. This has been buoyed by the delivery of a major contract with Monarch Airlines, though Belgravium has also recently secured another airline client.

The AIM counter delivered over 600 units of its 'Atlanta 5000' hand held device to Hermes, the UK's largest home delivery courier network, which handles over 140 million collections/deliveries a year. As is typically the case, Belgravium is enjoying the benefits of good recurring revenues as most contracts have an element of this.

House broker WH Ireland is holding its 2011 forecasts at pre-tax profits of £1 million (2010: £430,000), which would deliver EPS of 0.73p and a return to the dividend list with a 0.1p payment. This is a decent upgrade from earlier expectations last year, so its little surprise the shares have had a decent rise since we highlighted their attractions in March at 4.875p. Up 0.375p to 6.5p today, Belgravium rates as good value.

Tags: AIM market, In line with forecasts, Penny share, WH Ireland

Sector: Software & Computer Services

Companies: Belgravium Technologies

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