8 Jul 2016 07:00
8 July 2016
IndigoVision Group PLC ("IndigoVision" or the "Group")
Interim Post Close Trading Update for the six months ending 30 June 2016
Sales in the six month period to 30 June 2016 amounted to approximately $21.8million, 3% below the corresponding period last year. Within this, camera volumes increased markedly but this gain was offset by lower camera product margins arising from continued competitive market conditions. Notwithstanding the market challenges, gross margin remained broadly in line with 2015 as a whole and within the Group's normal trading range.
The impact of overhead reductions made in 2015 continued to flow through in the six month period. As a result, the Group expects to report that last year's first half operating loss of $1.26million has been largely eradicated. Working capital management remains strong, with net cash of $4.6million at the period end.
The interim results for the six months ended 30 June 2016 are expected to be announced on 15 September 2016.
For further information please contact:
IndigoVision Group plc | |
Marcus Kneen (CEO) | |
Chris Lea (CFO) | +44 (0)131 475 7200 |
N+1 Singer - Nominated Advisor | |
Sandy Fraser | +44 (0)207 496 3000 |
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.