With a market cap of about eight million, at 13p, Belgravium, BVM, (no thread on my search) a real time niche data software supplier, (not normally my favourite sector) could be a stock to get involved in.

A cursory look at finals in February would have satisfied rather than impressed. Strong balance sheet the most impressive feature, with cash over 2 million. A contract with Grattans was delayed however meaning turnover and a 750,000 profit was similar to the previous year.

Since then three factors have imho improved the investment picture for the better.

1) Not only was the Grattan's contract confirmed, it was bigger than anticipated.
2) The AGM statement said that suddenly people who had not been signing last year were now signing up.
3) A contract today provided evidence of this, which led to a new area where several lucrative contracts may follow. No mention of numbers, irritatingly, but it is the potential that is interesting here imho, Cockney rebel on advfn has highlighted the likes of Tesco getting interested in RFID. The Board said this:

"The Board is particularly delighted with this latest contract win, as it
represents a move into the emerging RFID (Radio Frequency) market, a technology which is being
adopted by many UK retail logistics operations and which we believe offers many
opportunities for Belgravium and its range of real-time data capture products.
We were very pleased to hear that NGF had chosen the Atlanta and we believe that
it will prove to be a superior product for RFID, due to its Windows capability,
colour screen and excellent ergonomics.'

The chart is not great it must be said, but an opportunity to get in at a bargain price and watch RFID developments could not only compensate for that but provide an excellent entry point before widespread interest sees these shares hopefully flourish.

I bought in today.

Looks a good fit. Crude maths suggests pretax profits around 3m p.a. without any synergy benefits. With around 100m shares in issue P/E should still be in single figures after today's rise, with decent growth prospects - and a dividend. Downside is short (good) track record of Touchstar and if I read it correctly its driving force appears to be taking the money and leaving.

Very good day for holders. Well done for patience. Look ok to me.

Hi Legend belated thanks for that. I am still holding and despite the lack of interest in this thread I believe BVM should be at least 25p, probably a fair chunk higher, given my modest eps forecast of 2.5-3p assuming zero growth, so a long way to go.

Got into this today at 17.85p, thanks to the seller.
Looks under-valued on 2006 forecast earnings.

Like the look of this. Still in it andy?