Pub beer sales in the third quarter of 2010 were down a whopping 7.8 per cent, so it's perhaps not surprising that in this environment Brulines, a beer-pump monitoring technology company, has warned on profits.
IC TIP:
Hold
at
103p
The group now says that underlying first-half trading is likely to be in line with last year. Costs are being cut and the group is trying to push the sale of its newer beer monitoring products and monitoring products for petrol station forecourts and coin-operated machines.
We tipped Brulines' shares at 105p in June 2009, but it has disappointed in terms of growth. However, the potential remains for better things once the market improves. This has been underlined by management's commitment to pay an increased interim dividend.
