Amino Technologies warns of flat revenues next year

Digital entertainment firm Amino Technologies said it would hike its dividend by 15 per cent after an in-line full-year performance, but warned of flat revenues next year.In a pre-close trading update, the IPTV, internet TV and in-home multimedia products group said that it expects to report solid like-for-like growth in profit and cash for the year ending November 30th.However, due to a change in revenue mix in the second half - as a result of higher demand for its lower-priced, lower specification products coupled with reduced orders from a specific customer - revenues for the year will total just £35-36m. This is lower than initially expected and compares with the £41.7m reported the year before.With trends predicted to continue into 2014, the revenue performance is expected to be similar next year, Amino said.Nevertheless, the company said it would recommend a full-year dividend of 3.45p per share, up 15% on the year before, in line with its existing payout guidance. This will grow by at least a further 15% next year, it said."Whilst headline revenue is now expected to be at lower levels than previously anticipated, we remain confident in the outlook for the group's profitability and cash generation," said Non-Executive Chairman Keith Todd.The stock was down 10.24% at 85.72p by 08:15 on Monday.BC