Belgravium Tech warns on profit

published 7 December 2012

Belgravium Technologies, which supplies mobile data computing solutions and managed services to a variety of industrial sectors, has warned that delayed contract orders - which were expected to be received by now - have been further delayed as a result the group's sales and profit levels for the year are likely to be below market expectation.

The reason for the delays is that customers have proved reluctant to commit to the necessary expenditure, although the company had expected the second half of 2012 to demonstrate normally much stronger period of trading.

In a statement the group said: "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."