Acquisitions by data monitoring firm lead to rise in profits

Data monitoring firm, Brulines, has attributed its healthy rise in profits to a number of acquisitions in its fuel solutions division.

The firm, which provides the pub, petrol forecourt and gaming sectors with data management services from its Stockton base, revealed that pre-tax profits rose by 2.8 per cent in the first half of this year, totalling £1.95 million.

Following the acquisitions of three petrol forecourt monitoring companies and creation of a partnership with Indigo Retail Technology, the turnover rose by 23.9 per cent to £12.27 million.

Another acquisition is also in the pipeline – Brulines announced that it is to purchase Bolton-based digital technology business Amscreen M2M for more than £2 million.

Chairman of Brulines, James Newman said that the firm had demonstrated a 'resilient financial performance' in the current tough trading environment.

"In particular, the group's strategy to diversify and strengthen further its Fuel Services division is progressing well, with a series of acquisitions expanding our offering in this area.

"These acquisitions are already earnings enhancing and favourably position the group to replicate, in the forecourt market, the success the group has had in the leisure sector," he added.

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