28 Apr 2015 11:59
28 April 2015
IndigoVision Group PLC ("IndigoVision" or the "Group")
Trading Update
As indicated in the 2014 annual report, IndigoVision has had a subdued start to the current financial year. UK and Europe has seen good growth, however trading conditions in Latin America and Asia Pacific have remained challenging, and North America and the Middle East have also experienced delays in project spending. Revenue streams from the enterprise market are project-dependent and lumpy in nature, and the Group won a number of large projects in the prior year which have not thus far been replicated in the current year.
We are continuing to target mid-market sales channels to improve the pattern and predictability of sales and the quality of earnings. We have also reduced overhead to reflect the reduction in overall activity. However, due to the slowdown in sales in H1, we expect to record an operating loss for the first half. We expect performance to recover in the second half, but as a result of the operating loss for H1, it is likely the full year result will fall below market expectations.
For further information please contact:
IndigoVision Group plc | |
Marcus Kneen (CEO) | |
Holly McComb (CFO) | +44 (0)131 475 7200 |
N+1 Singer - Nominated Advisor | |
Sandy Fraser | +44 (0)131 603 6873 |
Notes to Editors
About IndigoVision
IndigoVision is a leader in the design and manufacture of high performance, intelligent video security systems for large scale and complex security installations. From video capture and transmission to analysis and storage, IndigoVision networked video security systems provide the best quality and most secure video evidence, and use market leading compression technology to minimise network bandwidth usage and reduce storage costs.
IndigoVision's technology is ideally suited for use in mission critical facilities such as government, oil and gas, transport, cities, industry, education, police, prisons and casinos to improve public safety, protect assets, develop organisations' operational efficiency and support law enforcement.
IndigoVision has sales and support teams in 22 countries and operates through 18 regional centres, in Edinburgh, London, Paris, Amsterdam, Dusseldorf, Johannesburg, Dubai, Mumbai, Singapore, Macau, Shanghai, Sydney, Mexico City, Toronto, Bogotá, New Jersey, Buenos Aires and Sao Paulo. 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.