LONDON (Alliance News) - Shares in Amino Technologies PLC dropped 10% Monday after it said that it expects to post revenue between GBP35.0 million to GBP36.0 million for the full-year ending November 30, due to reduced demand from a specific customer and stronger demand for its lower priced, lower specification products.
Amino expects this trend to continue into 2014, and forecast that its revenue performance for the full-year 2014 will be similar to 2013. However, its profit and cash expectations for 2014 remain unchanged.
The digital entertainment software and hardware developer recommended a full-year dividend of 3.45 pence each, up 15.0% from 3 pence in the previous year. In line with its progressive dividend policy, Amino expects this dividend to increase by no less than 15% for the full-year 2014.
"Whilst headline revenue is now expected to be at lower levels than previously anticipated, we remain confident in the outlook for the group's probability and cash generation," said Non-Executive Chairman Keith Todd in a statement.
Shares in Amino Technologies were trading down 10% at 86.00 pence Monday morning.
By Hana Stewart-Smith; hanassmith@alliancenews.com; @HanaSSAllNews
Copyright © 2013 Alliance News Limited. All Rights Reserved.
