Amino 2017 profit in line with expectations
December 5, 2017
Amino Technologies a UK-based provider of digital entertainment solutions for IPTV, Internet TV and in-home multimedia distribution, has provided the following trading update for the year ended November 30th 2017.
The Group expects to report a full year performance that demonstrates continued customer traction for its IP / cloud video software solutions and devices, despite industry-wide memory cost headwinds. Gross profit and adjusted profit before tax are expected to be in line with market expectations, whilst revenue is expected to be similar to the previous financial year due to product mix. The Company’s cash position at 30 November 2017 was £13 million (30 November 2016: £6.2m) as a result of good operating cash conversion.
Keith Todd CBE, Non-Executive Chairman said: “I am encouraged by Amino’s strong operational performance with good profit margins and excellent cash generation. As we continue to deliver momentum and scale, we are seeing growing traction for our software solutions and new product lines. We enter 2018 with a solid backlog and an excellent pipeline which provide us with confidence for the year ahead and beyond.”
The Company will announce its full year results on February 6th 2018.