Amino Technologies PLC Trading Update (1983H)
June 06 2017 - 2:00AM
UK Regulatory
TIDMAMO
RNS Number : 1983H
Amino Technologies PLC
06 June 2017
Amino Technologies plc
("Amino" or "the Company")
Trading Update
Amino Technologies plc (LSE AIM: AMO), the global provider of
digital TV entertainment and cloud solutions to network operators,
provides the following trading update for the six months ended 31
May 2017.
The Group entered the period with a strong order backlog and
continued its solid sales execution driven by consistent demand for
IP devices. Trading for the period was therefore at record levels,
in line with management's expectations.
Revenue for the period is expected to be approximately GBP40m
representing c.21% growth over H1 2016 revenue of GBP33m. At
constant currency with revenue translated at last year's average
exchange rates, this represents revenue growth of c.5%.
Margins in the period have been strong. However, we anticipate
that they will be lower in the second half of the year as the
product mix shifts towards new product lines. As is typical with
the launch of new products these will be lower margin, optimising
over time as scale is reached. As a result, expectations for the
full year remain unchanged.
Net cash at 31 May 2017 was GBP13.1 million (31 May 2016:
GBP3.1m, 30 November 2016: GBP6.2m) and was positively impacted by
the timing of delivery of larger orders which were completed well
in advance of the period end.
Commenting on today's announcement, Keith Todd CBE,
Non-Executive Chairman said:
"The momentum we saw in 2016 has continued into the first half
of this year. Strong sales execution and growing traction for our
wider portfolio positions the Group well to meet expectations for
the full year."
The Company's interim results will be announced on 11 July
2017.
The information communicated in this announcement contains
inside information for the purposes of Article 7 of Regulation
596/2014.
For further information please contact:
Amino Technologies PLC +44 (0)1954 234100
Donald McGarva, Chief Executive Officer
Mark Carlisle, Chief Financial Officer
finnCap Ltd (NOMAD and Joint Broker) +44 (0)20 7220 0500
Matt Goode / Carl Holmes / Simon Hicks (Corporate Finance)
Simon Johnson / Tim Redfern (Corporate Broking)
Canaccord Genuity Limited (Joint Broker and Financial Adviser) +44 (0)20 7523 8000
Simon Bridges / James Craven / Emma Gabriel
FTI Consulting LLP (Financial PR) +44 (0)20 3727 1000
Chris Lane / Alex Le May / Darius Alexander
About Amino Technologies plc
Amino Technologies plc specialises in the development and
delivery of IPTV/OTT solutions. With over eight 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). www.aminocom.com
This information is provided by RNS
The company news service from the London Stock Exchange
END
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