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to see this rising - smug buy at 350ish, then watched it drop through the floor. Serves me right. Excellent growth and profits last year, ta jange. GL out there.
trades going through today..?....
"Double digit sales growth has continued into the first seven weeks of the current year, and the rate of order intake is equally encouraging. Over the next 18 months, management is clearly focused on achieving growth rates at least equal to those of the markets in which IndigoVision operates. Whilst forward visibility of future sales remains relatively short, at this early stage there is every reason to believe that the current year will be a good one," Grossart added. The shares rose 60p to 412.5p on the results which, given the 70p special dividend payment, might be regarded as a net share price decline.
Internet video security firm IndigoVision is awash with cash after a strong start to the new financial year and so has announced a special dividend of 70p per share. Revenue for the year to the end of July rose 5% to £30.27m from £28.89m the year before, with the second half seeing a 14% year-on-year improvement in the top-line. The rise was driven by strong growth in Latin America and a modest improvement in North America, offset by a small drop in Asia Pacific and by a decline in Europe, Middle East and Africa. Profit before tax and exceptional items more than doubled to £2.69m from £.121m in the previous year. Diluted earnings per share rose to 21.9p from 8.2p the year before. Cash balances at the end of July totalled £6.00m, up from £5.07m a year earlier. A final dividend of 5p per share has been declared, making 10p for the year, up 33%. On top of that, shareholders can expect a one-off special dividend of 70p. "A good start has been made in the current year," revealed Hamish Grossart, Chairman of IndigoVision.
Internet video security firm IndigoVision said turnover for the year to 31 July 2012 is expected to be not less than £30m. The Scottish technology firm, which sells digital surveillance equipment worldwide, said sales growth in the second half year is expected to exceed 10 per cent and full year sales are around 5 per cent ahead of the previous year. The group, which supplies its surveillance equipment to airports, transport, education, casinos, police and the military, said margins have improved compared with the previous year and costs have been well controlled, it added. As a result, operating profits, before exceptional items that were included in the first half year, are expected to not be less than £2.6m, more than double last year's total, the group explained. IndigoVision, which underwent a number of board changes in December last year, said it has since implemented a thorough review of business led by chief executive. "This has resulted in changes being implemented to operating management in certain regions, material improvements being made in product quality control, a greater focus on the vertical market segments globally, bringing forward certain new product introductions and a much stronger commercial focus being applied to the product roadmap," the group said in a statement. Chairman Hamish Grossart commented: "The return to double digit levels of sales growth in the second half, and the strong recovery in operating performance, have happened somewhat faster than we expected a few months ago, and is directly attributable to the energy and effort being put in by the management team." "IndigoVision is an excellent business operating in a growing market, and the opportunity is there to grow it further."
Chairman, Hamish Grossart, commented: "The return to double digit levels of sales growth in the second half, and the strong recovery in operating performance, have happened somewhat faster than we expected a few months ago, and is directly attributable to the energy and effort being put in by the management team. IndigoVision is an excellent business operating in a growing market, and the opportunity is there to grow it further." The results for the year to 31 July 2012 are expected to be announced on 27 September 2012.
Pre-close trading update for the full year to 31 July 2012 The board of IndigoVision is pleased to announce that turnover for the year to 31st July 2012 is expected to be not less than £30m. Sales growth in the second half year is expected to exceed 10% and as a result full year sales are circa 5% ahead of the previous year. Margins have improved compared with the previous year and costs have been well controlled. As a result, operating profits (before exceptional items that were included in the first half year) are expected to not be less than £2.6m, more than double last year's total. Following board changes in December last year, a thorough review of business has been undertaken, led by Marcus Kneen, Chief Executive. This has resulted in changes being implemented to operating management in certain regions, material improvements being made in product quality control, a greater focus on the vertical market segments globally, bringing forward certain new product introductions and a much stronger commercial focus being applied to the product roadmap.
http://www.investegate.co.uk/Article.aspx?id=201207310700088396I
New member and Novice, can anyone confirm for me, did the Board of Directors not seek permission from Shareholders at the last AGM for the Company to buy back shares, and did the shareholders not pass that resolution? Appears to me that they are more interested in increasing their own shareholding rather than acting in the best interests of Shareholders. Is this a case of "Come back Oliver Vellacott, all is forgiven"?
Hold a few shares here, any views where this is going ?
Scottish Equity Partners, one of the UK’s highest profile technology investment companies, yesterday emerged as another player in the battle for control over IndigoVision. The Glasgow-based venture capital business has bought a 6.6% stake in the Edinburgh-based firm through a recently established limited company, Kuiper, in an investment likely to have cost it more than £1.2m. It emerged yesterday that IndigoVision’s chairman Hamish Grossart had also further increased his stake, buying 10,000 shares at 255p each to increase his holding to 5.5%, The Scotsman reports.
I am about to do some work at Oliver house... I might ask him for some inside tips.. Before I buy some shares
Oliver Vellacott, Chief Executive, said: "Difficult trading towards the end of last year resulted in a reduction in operating profits, but the group continued to grow sales in some markets. We have had a slow start to the current financial year and although sales in the first seven weeks of the current year are approximately in line with last year, order intake is down on the corresponding period last year. Over the last twelve months a great deal of work has been undertaken improving the rate of introduction of new products and we expect that these will start to show through in improved business results as the year progresses. However we remain concerned about the impact of current economic conditions."
Final results for year ended 31 July 2011 Financial Highlights · Revenues £28.9m (2010: £28.0m) · Operating profit £1.19m (2010: £3.05m) · Diluted earnings per share 8.2 pence (2010: 25.6 pence) · Year end cash balances £5.07m (2010: £4.43m) · Total dividend per share 7.5 pence per share (2010: 7.5 pence) Operating Highlights · Sales growth in Latin America +41% and Asia Pacific +16% · Sales lower in North America -3% and Europe, Middle East and Africa -2% · Gross margin lower at 56% (2010: 60%) · Research and product development spend maintained at £3.0m · Rate of introduction of new products increasing · ONVIF common standard introduced
http://www.investegate.co.uk/Article.aspx?id=201109210700096097O
I suppose it depends on the defination of "significantly below current market expectations"
Surely overdone here - did it drop to 250! wish I had seen that !
IndigoVision Group plc ("IndigoVision" or the "Group") Trading Update Since our interim results announcement in March, the Group's rate of growth has slowed. We continue to expect that full year sales will exceed last year's revenue of £28.0m, but that they will fall short of internal forecasts. As we indicated in our interim report, gross margins weakened marginally in the first half. This has continued into the second half and we now expect gross margins for the year as a whole to be some 2% lower than last year. As a result, we anticipate that group profits for the year to 31 July 2011 will be significantly below current market expectations. The global market for IP video continues to develop at an encouraging rate, and we remain confident in IndigoVision's future, whilst being realistic about the risks and challenges which the group faces. In line with our normal practice, a further trading update will be issued immediately following the group's financial year end.
http://www.investegate.co.uk/Article.aspx?id=201106170700105958I
On paper this should be far better-EPS up last 4 years to summer '09.
now the surge to 700p is long over-where now..
10%+ up,very good,but why ?
Riddler thanx for replying.Yes as I said I have had this a lot in the past.It tended to do better in later parts of the cycle (???).I see BSY is doing quite well,so that is better news at least.
lol
Maybe turning up at last ?