LONDON (Alliance News) - Amino Technologies PLC on Monday said it remains confident in meeting market expectations for its full year, as it reported a swing to a pretax loss for its first half due to the impact of one-off costs.
For the half year to end-May, Amino reported a pretax loss of GBP549,000, swung from a pretax profit of GBP3.6 million, mostly due to costs related to the acquisition and integration of Entone Inc and Booxmedia Oy in 2015, as well as redundancy and associated costs.
Stripping out the exceptional costs, pretax profit rose to GBP4.2 million from GBP3.0 million, on revenue of GBP33.0 million, up from GBP17.9 million, which Amino said was in line with its expectations.
Revenue was bolstered by the acquisitions of Entone and Booxmedia, which Amino said were integrated successfully.
The company, which makes products for the delivery of digital programming, proposed an interim dividend of 1.391 pence, up from 1.265p the previous year.
"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 [ultra-high-definition] device range, and it is pleasing to see the positive traction gained in our markets," said Non-Executive Chairman Keith Todd in a statement.
"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," Todd added.
Shares in Amino Technologies were up 0.4% at 111.89 pence Monday morning.
By Hana Stewart-Smith; hanassmith@alliancenews.com; @HanaSSAllNews
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