Amino Technologies PLC Trading update (2040D)
October 08 2018 - 2:00AM
UK Regulatory
TIDMAMO
RNS Number : 2040D
Amino Technologies PLC
08 October 2018
8 October 2018
AMINO TECHNOLOGIES PLC
("Amino", the "Company" or the "Group")
Trading update
Amino Technologies plc (LSE: AMO), the global provider of media
and entertainment technology solutions to network operators,
provides the following trading update for the year ending 30
November 2018 ("FY2018").
Amino expects adjusted profit before tax for FY2018 to be
c.$11.5 million, reflecting an intensification of external
macroeconomic headwinds. This has resulted in lower than
anticipated orders and higher than expected component price
increases in the second half of the year.
We have seen customer decisions on orders delayed in the second
half because of instability in the economies of certain emerging
markets in which we operate, planned trade tariffs in the US which
although do not yet impact Amino's products directly, have created
confusion among our customers, and the diversity and depth of
change in the industry. In addition, we expect component prices to
continue to increase in the near future.
Cashflow remains strong and net cash at 30 November 2018 is
expected to be higher than at 31 May 2018.
In spite of the external market headwinds facing the Company in
the short term, the Board maintains its current commitment to
increase Amino's dividend by no less than 10% for the full year.
The Board also intends to maintain the FY2018 dividend level in
absolute terms for a further two years at least.
This commitment reflects the Board's confidence in Amino's cash
generation, market position and three long-term strategic growth
drivers - IP/Cloud TV Everywhere, Operator Ready Android TV and
Upcycling Legacy devices to next generation TV experiences.
Keith Todd CBE, Non-Executive Chairman, said:
"The Board remains confident in the strength and strategic
direction of the Company and has committed to continue its dividend
policy for this financial year and maintain this dividend level for
at least two years thereafter. The diversity and depth of change in
our industry this year has created difficult trading conditions in
the short term, however the Company remains well positioned to take
advantage of the all IP future, and remains profitable and cash
generative."
This announcement is released by Amino Technologies plc and
contains inside information for the purposes of Article 7 of the
Market Abuse Regulation (EU) 596/2014 (MAR), and is disclosed in
accordance with the Company's obligations under Article 17 of
MAR.
For the purposes of MAR and Article 2 of Commission Implementing
Regulation (EU) 2016/1055, this announcement is being made on
behalf of the Company by Mark Carlisle, Chief Financial
Officer.
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)
Tim Redfern / Richard Chambers (Equity Capital Markets)
Liberum Capital Limited (Joint Broker) +44 (0)20 3100 2000
Cameron Duncan / Bidhi Bhoma
FTI Consulting LLP (Financial PR) +44 (0)20 3727 1000
Jamie Ricketts / Alex Le May / Darius Alexander / Chris Birt
About Amino Technologies plc
Amino is a global leader in media and entertainment technology
solutions and an IPTV pioneer, working with over 250 operators in
100-plus countries. Drawing on more than 20 years' experience
delivering IP/cloud innovation, Amino enables operators to meet the
challenges they face as broadcast TV and online video moves to an
all-IP future with managed over-the-top (OTT) offerings. We are
expert in software, hardware and cloud implementation - able to
deploy our own leading-edge technologies and integrate these with
third-party and 'upcycled' legacy systems. At the forefront of the
evolution of TV Everywhere, Amino helps operators to provide the
features and functionality modern consumers are looking for in a
multiscreen, multi-device entertainment world.
Having deployed over 10 million customer premise devices and the
software necessary to link the back end to the user interface, we
understand the issues operators face. We partner with operators to
deliver end-to-end, operator-ready solutions that enable
next-generation customer experiences. We 'upcycle' existing
infrastructure to support more advanced services and integrate
seamlessly with new technologies to form a unified ecosystem. The
result is a fresh consumer offering based on a consistent user
experience across all screens, building brand reputation, stemming
churn, growing subscribers and increasing average revenue per user
(ARPU).
Amino Communications is a wholly-owned subsidiary of Amino
Technologies PLC and listed on the London Stock Exchange
Alternative Investment Market (AIM: symbol AMO), with headquarters
in Cambridge, United Kingdom, and global offices in California,
Finland, Hong Kong and Portugal. For more details, visit
www.aminocom.com
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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