LONDON (Alliance News) - IndigoVision Group PLC said Wednesday that revenue in the 12 months to July 31 were up as all major regions for the firm reported a rise in revenues, but said profits had been hampered by the strength of sterling against the US dollar.
The IP video surveillance firm said revenues for the year were more than GBP37 million, up more than 15% year-on-year and up 20% on constant currency terms.
All major regions for the group posted year-on-year revenue growth, with gross margins ahead of the previous year and overheads up around 15% on the back of the development of its global sales and distribution businesses.
The firm said operating profits for the period will be around GBP2.4 million, up around 17% year-on-year but impacted by the strength of sterling against the US dollar.
Before foreign exchange movements, operating profit for the group will be GBP2.7 million, it said, representing a 50% rise.
The company will post its results on September 17.
IndigoVision shares were down 6% to 470 pence on Wednesday.
By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance
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