Brulines, the leading provider of operational monitoring systems and data management service for the leisure and forecourt services sectors, announced final results to March 2011 showing sales of £24.3 million (2010: £19.8 million), adjusted operating profit of £3.9 million (2010: £5.0 million), pre-tax profit of £3.0 million (2010: £4.0 million), adjusted EPS of 8.69p (2010: 12.27p) and DPS of 5.65p (2010: 5.5p). The results include an exceptional charge of £176,000 (2010: £506,000 charge) and amortisation of intangibles of £696,000 (2010: £456,000).
The company reported that sales comprised Leisure £18.2 million (2010: £19.3 million) and Forecourt £6.1 million (2010: £500,000). There were 761 new beer flow monitoring installations, of which 677 were the new iDraught product. In March 2011, the Nucleus Smart Till EPOS was launched. It has been developed as a standalone product which interfaces directly to iDraught to provide till variance analysis.
Gross margin was 54% (2010: 59%), comprising Leisure 58% and Forecourt 42%. The targeted overall gross margin is 55%. Losses attributable to Vianet, Forecourt and US market development were £800,000 - each of these activities is expected to start making a profit contribution in 2011/12. Year end net debt was £1.2 million.
The medium term intention is to have Vianet and Forecourt each delivering 25% of group profit, and ViaTelemetry (based on technology acquired with Amscreen, in December 2010) delivering in excess of £1 million.
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