Amino returns to growth
December 4, 2014
Amino Technologies, the Cambridge-based specialist in digital entertainment solutions for IPTV, Internet TV and in-home multimedia distribution, has issued its full year figures.
The company has continued to benefit from strong trading since the announcement made on October 13th and as such profit before tax for the year ended November 30th 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 £20.8 million (€27m) (FY 2013: £19.5m). This is after taking into account share buy backs to the value of £1.4 milion and dividend payments of £1.9 million.
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.”