Amino Technologies PLC Trading Update (7817Y)
December 04 2014 - 2:01AM
UK Regulatory
TIDMAMO
RNS Number : 7817Y
Amino Technologies PLC
04 December 2014
4 December 2014
Amino Technologies plc
("Amino" or "the Company")
Trading Update
Strong performance and return to growth with positive traction
for
new products and improved tender activity
Amino Technologies plc (LSE: AMO), the Cambridge-based leader in
digital entertainment solutions for IPTV, Internet TV and in-home
multimedia distribution, today issues the following positive
trading update for the year ended 30 November 2014.
-- FY 14 profit ahead of expectations
-- Return to revenue growth achieved in second half
-- Strong cash flow maintained and dividend policy reiterated
The Company has continued to benefit from strong trading since
the announcement made on 13 October and as such profit before tax
for the year ended 30 November 2014 is expected to be above market
expectations and revenues are expected to be in line. Sales
performance has been encouraging and results in the second half of
the year reflected a return to revenue growth for the Company.
Good cash conversion has also been achieved, further increasing
the Company's net cash position to GBP20.8m (FY 2013: GBP19.5m),
equivalent to 40p per share (2013: 37p per share). This is after
taking into account share buy backs to the value of GBP1.4m and
dividend payments of GBP1.9m.
New contract wins with significant operators in North America,
Eastern Europe and the Middle East, have underpinned this
performance. Tender activity has also been strong, particularly in
the second half of the year, with positive traction for the
Company's newly launched product portfolio.
At the interim results, the Company committed to a progressive
dividend policy of no less than a 10% per annum increase up to and
including the year ending November 2016.
Commenting on the announcement, Keith Todd CBE, Non-executive
Chairman, added:
"We are pleased to report continued strong operational
performance and return to growth over the past six months. This,
together with the continued excellent cash generation, underpins
the board's confidence in the future growth opportunity. We are
making very good progress with significant new tender activity in
new and existing markets. Market reception to the new product
portfolio has been very positive with good traction achieved and we
look forward with confidence to the year ahead."
For further information please contact:
Amino Technologies plc +44 (0)1954 234100
Donald McGarva, Chief Executive
Officer
Julia Hubbard, Chief Financial
Officer
FTI Consulting LLP +44 (0)20 3727 1000
Matt Dixon / Chris Lane / Alex
Le May
finnCap Limited +44 (0)207 600 1658
Charlotte Stranner / Simon Hicks
- Corporate Finance
Victoria Bates- Corporate Broking
About Amino Technologies plc
Amino Technologies plc specialises in the development and
delivery of IPTV/OTT solutions. With over five million devices sold
to 1,000 customers in 100 countries, Amino's award-winning
solutions are deployed by major network operators and service
providers worldwide. Amino Technologies plc is headquartered near
Cambridge, in the UK, and is listed on the AIM market of the London
Stock Exchange (AIM: symbol AMO).
This information is provided by RNS
The company news service from the London Stock Exchange
END
TSTQKNDKOBDDBBK
Aferian (LSE:AFRN)
Historical Stock Chart
From Aug 2024 to Sep 2024
Aferian (LSE:AFRN)
Historical Stock Chart
From Sep 2023 to Sep 2024