8 Nov 2012 10:00
IndigoVision Group PLC ("IndigoVision" or the "Company")
AGM Statement
At IndigoVision's Annual General Meeting being held at 10.00am this morning, Hamish Grossart, Chairman, will make the following statement:
"We are pleased to confirm a positive start to sales in the current year.
In the first quarter revenues grew by 6 per cent and order intake grew by over 10 per cent, continuing the improvement seen in the second half of last year. As expected, the mix of projects completed resulted in lower gross margins than last year's very strong levels. Overheads rose in line with budgets, reflecting spend to support sales growth and further investment in engineering and product development, the key to long term value.
As the year progresses, we anticipate further benefit arising from a focus on continued product releases and related marketing support, and from the strengthened management team. As ever, the visibility of future orders remains short, but we remain of the view that IndigoVision is well positioned to deliver growth for the year as a whole. Given the outstanding performance achieved in last year's first half, we expect benefits to operating performance to be skewed towards the second half of the current year. Looking to the longer term, management are tasked with increasing sales growth in line with the attractive and growing markets in which IndigoVision operates."
For further information please contact:
IndigoVision Group plc | |
Marcus Kneen (CEO) | |
Holly McComb (CFO) | +44 (0)131 475 7200 |
N+1 Singer - (Nomad & Broker) | |
Sandy Fraser | +44 (0)131 529 0272 |
Notes to Editors
About IndigoVision
IndigoVision is a leading manufacturer of end-to-end IP video security solutions. When "mission critical" really matters, people choose us for the resilience of our solution, backed by strong support. Working across some 20 market sectors, we serve end users to improve their operational efficiency, enhance public safety and enable timely emergency response.
IndigoVision is headquartered in Edinburgh UK, with sales and support staff in 30 countries. We partner with some 500 trained system integrators to provide local installation and service to end users in 84 countries. We provide support from 15 regional centers including New Jersey, Sao Paulo, Singapore, Dubai, London and Edinburgh, with training facilities, demo suites and local stocking.