Amino Technologies trades in line

(Sharecast News) - Amino Technologies expects to have traded in line with expectations in the year ended 30 November after delivering "excellent" operating cash flows.
The AIM-listed group said the integration of 24i, the online video specialist it bought in July, had completed and the unit was continuing to make "good operational progress".

Net cash was projected to have contracted to $1.4m from $20.4m.

Separately, Amino and 24i announced their first joint contract on Monday - an agreement with Dutch virtual mobile network operator Youfone to provide a fully integrated, end-to-end video solution to refresh and expand its TV and OTT offering.

Amino also recently secured a new three-year $15m multi-currency revolving credit facility with Barclays in order to replace its previous facility, which was due to expire in July 2020.

Chairwoman Karen Bach said: "Amino continues to deliver excellent operating cash flows and expects to report a strong performance, in line with market expectations, supported by a net cash position.

"With the integration of 24i into the group now complete, we look forward to accelerating our evolution to higher-margin software and recurring revenues."

As of 1055 GMT, Amino shares had picked up 3.06% at 107.70p.