Amino Technologies to hit H1 targets after good US trading

Set-top box maker Amino Technologies forecast first half results in line with hopes thanks to buoyant US business, but said revenue was likely to be weighted towards the second half.Amino, which makes devices that allow people to stream programmes to TVs from the internet, said a good performance in its US operations had continued and it was making inroads into markets in Latin America and Eastern Europe.It also said it was developing wider services to help it underpin momentum in existing markets as well as increasing its presence in new areas.The group said in an update on trading for the six months to May 31st that it expected to report pre-tax profit before tax in line with expectations and a strong first half closing net cash balance of £19.7m against £18.2m a year ago. It added: "In line with existing guidance, the company expects to report revenue returning to a traditional second-half weighting, which will therefore result in a lower year-on-year comparison." It proposed an interim dividend of 1.15p per share, up 15% year-on-year.Chairman Keith Todd said: "I am encouraged to see our strategy to target profitable returns from appropriate, high-quality customer mandates continues to bear fruit."Amino's shares rose 5p or 5.6% to 94.5p at 16:09 in London.PW