4th Mar 2015 08:54
LONDON (Alliance News) - Belgravium Technologies PLC Wednesday posted a rise in pretax profit for 2014 and said it believes it will achieve further progress in 2015.
The mobile computing services company has opted not to pay a final dividend in order to conserve its cash for a potential acquisition it said it has identified. It said that talks are at an early stage, but currently expects to finance the acquisition through its existing cash resources and bank debt if it goes through.
If this acquisition does not go ahead, Belgravium will consider paying a dividend after its interim results in September.
Belgravium posted a pretax profit of GBP475,000, up from GBP125,000 a year before, as revenue rose to GBP9.4 million from GBP8.4 million and it posted lower exceptional costs.
Revenue growth was boosted by a full year contribution from its acquisition of Feedback Data PLC in May 2013.
Shares in Belgravium are trading up 16% at 5.22 pence Wednesday morning.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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