Amino reports “strong” H1

Amino Technologies, a global provider of digital TV entertainment and cloud solutions to network operators, announces unaudited consolidated results for the six months ended May 31st 2017.

Financial highlights include:

  • Revenue growth of 21 per cent to £40 million, in line with management’s expectations
  • Underlying revenue growth of 4 per cent in constant currency, in line with management’s expectations
  • Gross margin increased to 44.5 per cent from 43.6 per cent, as a result of a higher proportion of mature products sold in the period
  • Adjusted profit before tax up 64 per cent to £6.9 million
  • Adjusted basic EPS up 61 per cent to 9.2p
  • Adjusted cash generated from operations up 102 per cent to £13m, representing 148 per cent of adjusted EBITDA
  • Net cash of £13.1m at 31 May 2017, up £6.9m since 30 November 2016, after paying final dividend of £3.3m
  • Increase in interim dividend to 1.530p per share, up by 10 per cent year on year in line with the Company’s stated progressive dividend policy, and representing the sixth consecutive year the interim dividend has been increased

Operational highlights include:

  • Strong first half performance as anticipated, executing on entry order book
  • Continued sales growth in North and Latin America with growing traction in the transition from cable to IP
  • Launch of Enable “virtual set-top box” software to address operator demand to transform legacy devices to new user experiences which was also deployed with Chilean operator GTD
  • Deployment of first “end-to-end” entertainment delivery solution for European operator
  • Broadened device portfolio with launch of new compact Android TV device

Commenting on the results, Keith Todd CBE, Non-Executive Chairman said: “We are delighted to deliver a strong first half performance which has been achieved by effective execution on our order book. Revenue and adjusted profit before tax are in line with our expectations and the closing cash position is ahead of expectations.  Our sales pipeline is robust and we are therefore confident that we will deliver full year profits in line with market expectations.”

 

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