Amino growth continues
January 28, 2013
Amino Technologies announced audited results for the year ending November 30th 2012 which it said demonstrates strong growth in profitability and cash.
Gross profit up 20.8 per cent to £17.5 million with gross margins up 9.3 percentage points to 42 per cent. EBITDA was £6.2 million, an increase of 42.2 per cent (2011: £4.4 million), with operating profit of £2.84 million (2011: loss of £0.64 million).
Underlying revenue was down 6.1 per cent to £41.74 million reflecting continued focus on profitability Year-end net cash 21.3 per cent higher at £17.14 million (2011: £14.14 million).
Keith Todd CBE, Non-Executive Chairman, stated: “Amino has performed strongly in 2012, and we have seen significant increases in both profit and cash flow, alongside material improvements in its operational execution. This has allowed us to sharply increase shareholder returns.
Moving into 2013, we will continue to target growth which is both high margin and cash flow generative, leveraging off a simplified supply chain and more targeted product range. Whilst exercising a suitable degree of caution, we are well positioned to meet its expectations for the financial year ahead.”