SHAREHOLDERS in a Bradford-based mobile data business will next month be asked to rubber stamp the company's name change to better reflect its revamped operations.

The move by Belgravium Technologies group, based at the Listerhills Science Park, comes after a major restructuring programme, whose one-off costs pushed the business into losses last year.

Belgravium, led by executive chairman Ian Martin, who bought three million shares in the business in 2015 and announced a major restructure of its operations, has changed its name to TouchStar Technologies Limited, the trading name used by most of its divisions.

The company, which produces handheld computers for the logistics and retail sectors, reported a £6.3 million loss for the year to December 31 2015, caused by a goodwill impairment of £6 million and more than £600,000 of restructuring costs. In 2014 Belgravium returned a profit of £477,000.

Revenues fell to nearly £8.7 million from £9.4 million, while adjusted profits after tax were £299,000 against £536,000 the previous year.

Mr Martin said Belgravium was at a watershed when he took over and continuing as before was not an option .

He said: " I am pleased to say we have come a long way in a short period of time.The operations are now more efficient, some costs have been taken out of the business and there have been substantial changes made to both senior management and the Board.

"The financial results for the year ended 31 December 2015, at face value and relative to the prior year, appear disappointing. That said, trading results are slightly better than our expectations.

" Last year was a period of consolidation and transformation for Belgravium.The management is now focused on future opportunities and building the business to support organic growth, that is both profitable and sustainable. Whether we succeed or not, only time will tell, but we have every chance with a stronger foundation in place.

"I am confident that, over time, not only will we create a business of increased value, but also one of which we can be proud."

Belgravium had made a reasonable start to 2016 and was fighting hard for each sale.

"Over the next 18 months we will be introducing several new products and services, some are already in the latter stages of development with launch customers. Ultimately, the fortunes of the business will be directly linked to our ability to design, implement and deliver products, services and solutions that meet our customers' demands and that bring the functionality and productivity enhancement they require," Mr Martin added.