LONDON (Thomson Financial) - Belgravium Technologies Plc. said although it has benefited from a good degree of repeat business, a lack of new contracts will produce first-half results "substantially below expectations".

In an AGM statement, Chairman John Kembery said Belgravium, which is experiencing the effects of current markets like all companies, is positioned strongly to address demand once markets recover.

The company is not immune from wider global economic conditions and recent trading in 2008 has seen a slow down in the number of forward order contracts secured. The longer-term pipeline of new project remains very healthy although short-term visibility on when they might come to fruition, is poor, Kembery said.

The company has delivered a solid set of results for 2007, showing an 11 percent increase in both pretax profit and earnings per share, with major benefits derived from the successful integration of TouchStar and NovoIVC, he added.

TFN.newsdesk@thomson.com yos/tsm/ejp

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