HANDHELD computer firm Belgravium Technologies said profits plunged during a “challenging” 2012, but added it expects earnings to improve this year.
The Bradford-based company designs and sells handheld terminals for sectors including aviation and fuel distribution. It saw pre-tax profits fall to £282,000 from £1m. But the company will maintain its dividend at 0.1p. Revenues slid 22 per cent to £8.7m.
John Kembery, executive chairman, said: “After a successful 2011 which benefited from some large contracts, 2012 has proved a challenging year.
“In common with many companies, Belgravium has found it difficult to convert its sales pipeline into confirmed orders as customers continue to delay their investment decisions.
“We do not expect our markets to change significantly in 2013. However, the group has a strong balance sheet and has initiatives in place which should ensure improved profitability in the current year.”