DATA monitoring specialist Brulines yesterday said it was confident of further growth despite challenging economic conditions.

The AIM-listed Stockton firm told shareholders at its annual general meeting in Leeds that trading is in line with expectations.

Although Brulines posted a 25% slump in pre-tax profits in the year to March, analysts are forecasting an improved performance once recent acquisitions start to become more profitable.

Cenkos predicts pre-tax profits will rise to around £4.5m by March 2012 on the back of a stronger performance by Brulines’ fuel solutions division, which according to the Teesside firm is attracting “strong interest” from forecourt operators.

The technology allows operators to measure the amount of petrol sold in garages.

Yesterday Brulines reported “encouraging commercial progress” across its core businesses.

Chairman James Newman said: “Whilst the economic backdrop remains challenging, the progress that the group has made on key products provides encouraging divisional growth prospects.”

Brulines still has a strong presence in the market, supplying its beer monitoring kit to more than one in three UK pubs. But it is keen to diversify its offering following a damaging recession which forced pub company customers to slim down their estates and delay projects.

Brulines intends to change its name to Vianet to reflect its work in the leisure, fuel and vending markets.

Its expansion in these markets will push up revenues to £25.5m by next year and £26.8m in 2012-13, Cenkos predicts.