Amino posts strong profit growth
January 27, 2014
Amino Technologies, the Cambridge-based specilaist in digital entertainment solutions for IPTV, OTT and in-home multimedia distribution, announces audited results for the year ended November 30th 2013.
Amino said the results demonstrate further successful delivery with strong growth in profits and cash driven by demand for the company’s higher margin products.
Financial results:
– Operating profit increased 46 per cent to a record £4.1 million (€4.8m) (2012: £2.8m)
– Operating profit before exceptional items increased by 17 per cent to £3.3 million (2012: £2.8m)
– Gross margin up 3.2 percentage points to 45.3% (2012: 42.1%)
– In line with previous guidance, revenue down 14 per cent to £35.9 million (2012: £41.7m), primarily reflecting continued demand for lower specification product coupled with a reduced level of demand from a specific customer
– Year-end net cash increased 14 per cent to £19.5 million (2012: £17.1m), equivalent to 37.0p per share (2012: 32.8p per share)
Commenting on the results, Keith Todd CBE, Non-Executive Chairman, stated: “Amino has seen continued success in 2013 and has delivered growth in profits and cash whilst meeting the diverse needs of its global customer base. Due to the continued focus on margin enhancement and cash generation, I am pleased that we have been able to increase our improved final dividend.”
“Looking further out, we are making significant progress with a number of new product initiatives which will expand our addressable market. The Board remains confident in the outlook for the Group’s profitability and cash generation in the year ahead and the positive impact on revenues of the new enhanced offering from 2015.”