31 Jul 2012 07:00
IndigoVision Group PLC (the 'Company' or 'IndigoVision')
Pre-close trading update for the full year to 31 July 2012
The board of IndigoVision is pleased to announce that turnover for the year to 31st July 2012 is expected to be not less than £30m. Sales growth in the second half year is expected to exceed 10% and as a result full year sales are circa 5% ahead of the previous year. Margins have improved compared with the previous year and costs have been well controlled. As a result, operating profits (before exceptional items that were included in the first half year) are expected to not be less than £2.6m, more than double last year's total.
Following board changes in December last year, a thorough review of business has been undertaken, led by Marcus Kneen, Chief Executive. This has resulted in changes being implemented to operating management in certain regions, material improvements being made in product quality control, a greater focus on the vertical market segments globally, bringing forward certain new product introductions and a much stronger commercial focus being applied to the product roadmap.
Chairman, Hamish Grossart, commented:
"The return to double digit levels of sales growth in the second half, and the strong recovery in operating performance, have happened somewhat faster than we expected a few months ago, and is directly attributable to the energy and effort being put in by the management team. IndigoVision is an excellent business operating in a growing market, and the opportunity is there to grow it further."
The results for the year to 31 July 2012 are expected to be announced on 27 September 2012.
Notes to Editors
About IndigoVision
IndigoVision is a leading manufacturer of end-to-end IP security management solutions. IndigoVision is widely chosen for applications in airports, cities, retail, ports, mining & petrochemicals, road & rail systems, education, finance, casinos, law enforcement, government and the military. These enterprise-class systems improve organizations' operational efficiency, enhance public safety and enable timely emergency response.
IndigoVision is headquartered in Edinburgh, UK, with its own local sales and support people in 25 countries across the world. IndigoVision partners with some 380 authorized system integrators and installers in 76 countries to provide local system design, installation and service to end users.
Enquiries to:
IndigoVision Group plc +44 (0)131 475 7200
Hamish Grossart (Chairman)
Marcus Kneen (CEO)
N+1 Brewin +44 (0)131 529 0385
Sandy Fraser (NOMAD)