5 Jun 2014 07:00
5 June 2014
Amino Technologies plc
("Amino" or "the Company")
Trading Update
- Extension of progressive dividend policy up to and including 2016 -
Amino Technologies plc (LSE AIM: AMO), the Cambridge-based leader in digital entertainment solutions for in-home multimedia distribution, provides the following update on trading for the six months ended 31 May 2014.
The Company expects to report profit before tax in line with expectations and a strong first half closing net cash balance of £19.7m (H1 2013: £18.2m). This net cash balance also represents an improvement on the year end, even after the payment of £1.3m to shareholders in the form of an FY 2013 full year dividend. 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. This performance is consistent with the Company's strategic focus on profit and cash conversion.
During the period, the Company has seen continued good performance from its US operations and growing levels of engagement in Latin America and Eastern Europe. Furthermore, the Company has continued to press ahead with investments to develop a broader-based solutions offering, capable of underpinning momentum in existing markets as well as increasing Amino's total addressable market.
The Board is pleased to recommend an interim dividend of 1.15 pence per share, representing a 15% year-on-year increase and in line with existing dividend guidance. The Board is also pleased to confirm today that it is extending its commitment to pursue a progressive dividend policy for a further two years up to and including the year ending November 2016. Further details on the interim dividend and the terms of the dividend policy will be given at the time of the Company's interim results announcement on 14th July 2014.
Commenting on the update Keith Todd CBE, Non-Executive Chairman of Amino said:
"I am encouraged to see that our strategy to target profitable returns from appropriate, high-quality customer mandates continues to bear fruit. Development of our new wider solutions-based portfolio aimed at driving future growth is also progressing well. Given our robust cash position and our confidence in the future, we have today extended our commitment to a progressive dividend policy for a further two years."
Ends
For further information please contact:
Amino Technologies plc | +44 (0)1954 234100 |
Keith Todd CBE, Chairman Donald McGarva, Chief Executive Officer | |
Julian Sanders, Interim Chief Financial Officer | |
FTI Consulting LLP | +44 (0)20 3727 1000 |
Matt Dixon / Chris Lane / Alex Le May | |
finnCap Limited | +44 (0)207 600 1658 |
Charlotte Stranner / Simon Hicks - Corporate Finance | |
Victoria Bates / Stephen Norcross - Corporate Broking |
About Amino Technologies plc
Amino Technologies plc specialises in the development and delivery of IPTV and hybrid/OTT solutions. With over five million devices sold to 850 customers in 85 countries, Amino's award-winning solutions are deployed by major network operators and service providers worldwide. Amino Technologies plc is listed on the AIM market of the London Stock Exchange (AIM: symbol AMO). It is headquartered near Cambridge, in the UK, with offices in the US and China. For more information, please visit www.aminocom.com