IND.L Regulatory News (IND)

IndigoVision Group PLC ("IndigoVision" or the "Company")

AGM Statement

At IndigoVision's Annual General Meeting being held at 11.00am this morning, Hamish Grossart, Chairman, will make the following statement:

"IndigoVision has had a good start to the current financial year. In markets that continue to expand, group revenues for the first quarter were approximately 14 per cent higher than the corresponding period last year, driven by strong growth in the Asia Pacific region and in Latin America. Major new projects included city surveillance in Malaysia, Sao Paulo International Airport, and the overlay system for the FIFA 2014 World Cup.

As expected, the mix of sales continues to migrate from encoders to intelligent cameras with sales of intelligent cameras for the first three months increasing by over one-third compared to the corresponding quarter last year. New product releases planned shortly include a 20 megapixel camera, an explosion proof camera range designed for the oil and gas industry, and a much lower priced encoder.

Gross margins were similar to last year's average and, as planned, overheads rose following the increased sales and sales support headcount put in place in the second half of last year. Notwithstanding these cost increases, the combination of better sales and solid margins resulted in net operating performance for the first quarter being comfortably ahead of the corresponding period last year.

The board indicated at the time of the annual results that the benefit from last year's increase in sales resource was expected to be weighted towards the latter part of 2014 and that remains the case. However, the increased rate of sales growth in the first quarter is an encouraging start to the new financial year and gives the board confidence in delivering the progress we expect for the full reporting period."

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Notes to Editors

About IndigoVision

IndigoVision is a leader in the design and manufacture of high performance, intelligent video surveillance systems for large scale and complex security installations. From video capture and transmission to analysis and storage, IndigoVision's surveillance system provides the best quality and most secure video evidence, and uses market leading compression technology to minimise network bandwidth usage and reduce storage costs.

IndigoVision's technology is ideally suited for use in strategic sites such as airports, rail networks, ports, cities, oil and gas installations, defence operations, casinos, stadiums, prisons and the police force to improve public safety, protect assets, develop organisations' operational efficiency and support law enforcement.

IndigoVision has sales and support staff in 23 countries and operates through seven regional centres, in New Jersey, Sao Paulo, Toronto, Singapore, Dubai, London and Edinburgh. IndigoVision partners with a network of some 600 trained and authorised IndigoVision resellers to provide local system design, installation and servicing to IndigoVision's system users.