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US anti-theft shopping trolley concern Gatekeeper Systems predicts a profit rebound after 2007’s halving to $1.4 million (£700,000) pre-tax.

California-based Gatekeeper, which describes itself as the ‘leading global provider of intelligent shopping cart solutions’, suffered a $1.2 million fall in turnover last year, compared with 2006 revenues swollen by the completion of a 700-store trolley launch for one US customer. Moreover, the AIM-quoted company says a ‘significant portion’ of its US order pipeline in the last months of 2007 was not converted into sales, but says it expects these orders to come through in the first half of this year.

Former chief executive officer Michael Lawler has replaced Richard Brandes as chairman and Erik Paulson is now chief executive officer of Gatekeeper. This follows Brandes’ appointment to the board of RTP Controls, provider of ‘demand response, real-time price control and power monitoring solutions’ to US businesses.

Gatekeeper bought 30 per cent of RTP in January for $2.5 million, with an option to double that within five years. The company also paid $2.75 million to complete the repurchase of its Canadian rights.

Directors argue these acquisitions will help Gatekeeper lift pre-tax profits nearly fourfold this year to ‘at least $4 million’. Floated at 48p five years ago, the shares have had a chequered career, reaching 54.5p a year ago before crumbling to 8.75p last month.

Now 15p, up 6.25p this morning, they value the company at £5.85 million and have speculative appeal.

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