Amino reports “encouraging” H1
July 11, 2016
Amino Technologies, a UK-based specialist in digital entertainment solutions for IPTV, Internet TV and in-home multimedia distribution, has published unaudited consolidated results for the six months ended May 31st 2016.
The company reported revenue of £33 million (€38.7m), up by £15.1 million after y-o-y growth of 84 per cent. Gross profit was up 58 per cent to £14.4 million. Gross margin remains strong at 43.6 per cent, resulting from a blended margin from the acquisitions in 2015.
Commenting on the results, Keith Todd CBE, Non-Executive Chairman said: “This has been an encouraging first half performance by Amino. Following the acquisitions in 2015, Amino has developed and launched an enhanced product offering, including a new 4K UHD device range, and it is pleasing to see the positive traction gained in our markets. Revenue and profit before tax and exceptional items are in line with our expectations and the closing cash position is ahead of expectations. We look forward to the second half of the year with confidence.”