Amino Technologies shrugs off pricing headwinds as pretax profit grows
Source - SMW
Amino Technologies plc, the global provider of digital TV video solutions to network operators, said pre-tax profit in 2017 rose 10% to £11.2m from £10.2m a year ago.
This growth in pre-tax profit comes despite industry component pricing headwinds as gross margins rose modestly to 44.5%, up 160 basis points compared to the previous year, while organic revenue fell 7% reflecting a shift in product mix.
Net cash grew 110% to £13m in 2017 compared to a year ago, while the company recommended a 10% increase in its dividend.
The company said its 2018 sales pipeline was strong as it secured two new contracts post period end.
'Amino has made a promising start to 2018 and has a solid order book and sales pipeline visibility to the end of the year, with a return to our normal seasonality in terms of a stronger second half financial performance,' Chairman Keith Todd said in a statement.
At 8:39am: (LON:AMO) Amino Technologies PLC share price was -3.5p at 195.5p