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10 Jan 2019 07:00
10 January 2019
IndigoVision Group plc
("IndigoVision", the "Company" or the "Group")
Period End Trading Update
The Board of IndigoVision is pleased to report that sales for the financial year ended 31 December 2018 were $45.9m, representing a 9% increase over 2017 sales of $42.1m (as restated for the adoption of IFRS 15). The positive trend on gross margins reported in the interim results was maintained throughout the year. In 2018, the Company expects to report a significant reduction in its operating loss.
Net cash in hand at 31 December 2018 was $2.0m and the Company is continuing its discussions with debt providers to replace the existing Royal Bank of Scotland overdraft facility which expires on 28 February 2019.
The Company's preliminary results for the year ended 31 December 2018 will be published on 7 March 2019.
Enquiries to:
IndigoVision Group plc | Pedro Simoes (CEO) | +44 (0) 131 475 7200 |
| Chris Lea (CFO) |
|
N+1 Singer, Nominated Advisor
|
Sandy Fraser |
+44 (0) 20 7496 3176 |
Charlotte Street Partners, Media Enquiries
| Malcolm Robertson Martha Walsh | +44 (0) 7788 567680 +44 (0) 7876 245962 |
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